Russian President Vladimir Putin considers Germany’s seizure of Rosneft subsidiaries assets in Schwedt unacceptable.
According to Vladimir Putin, the use of illegal methods against Rosneft by the German government is unacceptable. He noted that these actions by the authorities look like nationalization and confiscation of Russian property.
However, the Russian president believes that the conflict can be resolved through negotiations with regulators and partners. Putin added that Rosneft is ready for negotiations with both the German side and Kazakhstan.
According to Reuters, Rosneft argued that, under an agreement among Schwedt’s ownership consortium, existing shareholders had a right of first refusal and that having Prax as a stakeholder in Schwedt could jeopardise the sale of its own stake in the future.
The court said Rosneft’s complaint lacked legal grounds, adding that under the consortium agreement the company was obligated to consent to the sale as long as Shell had offered other shareholders the right of first refusal, which it said Rosneft declined in writing.
On September 16, 2022, the German government transferred Rosneft subsidiaries Rosneft Deutschland and RN Refining & Marketing to the control of the Federal Network Agency. The regulator gained control over Rosneft Deutschland and the corresponding stake in three refineries, PCK Schwedt, MiRo and Bayernoil.
