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Germany’s Decision on Rosneft Means Complete Loss of Assets – Company

Samizdat – 16.09.2022

The German government’s decision to transfer Rosneft’s subsidiaries under the control of the Federal Network Agency means a complete loss of assets for the Russian company, Rosneft said on Friday, adding that it will make efforts to protect those assets.

Earlier in the day, the German Ministry for Economic Affairs and Climate Action said that Berlin had transferred Rosneft’s subsidiaries — Rosneft Deutschland and RN Refining & Marketing — under the control of the Federal Network Agency.

“The decision of the German Federal Government to transfer the company’s German assets to the federal grid agency for external management, unfortunately, is not unexpected for us and is in line with the US-imposed algorithm of actions in relation to Russian enterprises in Germany. This decision is illegal and, in fact, is an expropriation of shareholding as a result of a situation deliberately created by the relevant EU sanctions and the actions of German and Polish regulators, the purpose of which was to seize assets,” Rosneft said in a statement.

The Russian company added that Berlin’s decision is a violation of the principles of a market economy.

“The company understands that the decision taken by the Federal Government of Germany is not temporary, and, in fact, means the irretrievable loss of assets. Rosneft will work out all possible measures to protect shareholders, including going to court,” Rosneft said, adding that it is ready to negotiate a new contract if “there are guarantees of payment for supplied raw materials and protection of investments.”

September 16, 2022 - Posted by | Economics, Russophobia |

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