BERLIN — Germany is taking control of three Russian-owned refineries in the country to ensure energy security before an embargo on oil from Russia takes effect next year, officials said.
Two subsidiaries of Russian oil giant Rosneft — Rosneft Deutschland GmbH and RN Refining & Marketing GmbH — will be put under the administration of Germany’s Federal Network Agency, the Economy Ministry said in a statement.
As a result, the agency will also control the companies’ shares in the refineries PCK Schwedt, MiRo and Bayernoil, located in the east and south of Germany.
“This is a far-reaching energy policy decision to protect our country,” German Chancellor Olaf Scholz said. “We’ve long known that Russia isn’t a reliable supplier of energy anymore.”
“With today’s decision, we’re ensuring that Germany is supplied with oil in the medium- and long-term as well,” Scholz said. “That is particularly true for the Schwedt refinery.”
The facility provides petroleum products to much of northeastern Germany, including Berlin.
Rosneft accounts for about 12% of Germany’s oil refining capacity, importing oil worth several hundred million dollars every month, the ministry said.
Scholz said a $1 billion package would secure jobs for about 1,200 people currently working at the PCK refinery in Schwedt and help with its long-term transformation as part of the transition toward a green economy.
