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Berlin takes control of the German activities of Rosneft so as not to run out of oil

To secure its oil supplies, the German government took control of Russia’s Rosneft on its territory.

The German government has placed the activities of the Russian giant Rosneft in Germany under the supervision of the country’s Federal Network Agency, the German Ministry of Economy has just announced, in order to “secure” the national energy supply.

Rosneft Germany accounts for about 12% of Germany’s oil processing capacity, making it one of the largest oil processing companies in Germany, according to the German Economics Ministry.

The Russian oil company that employed former German chancellor Gerhard Schröder is one of the largest contributors to Russian state revenue. The oil giant announced this week a net profit of 13.1% in the first half of 2022. It amounted to 432,000 million rubles (7,300 million euros) in this period.

Author: Frederic Bianchi
Source: BFM TV

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