News Feed, Germany, Russia, Business

Germany eyes nationalization of Russian oil subsidiary

by Vladyslav Kudryk February 8, 2024 1:39 PM 1 min read

Germany's Chancellor Olaf Scholz speaks during a press conference at the end of a European Union summit at the EU headquarters in Brussels on Oct. 27, 2023. (John Thys/AFP via Getty Images)

This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Germany is considering the nationalization of Rosneft Deutschland, a subsidiary of Russian state-owned oil giant Rosneft, which has been under the control of the German government since September 2022 in the wake of Russia's full-scale invasion of Ukraine, Reuters reported on Feb. 7, citing sources.

The Russian oil giant's law firm in Germany confirmed the report on Feb. 8, adding that it would take all measures to protect shareholders' rights, Reuters said.

Rosneft owns a majority stake in the Brandenburg PCK refinery in Schwedt, on the Polish border northeast of Berlin. About 54% of the shares are currently under the trusteeship of the German federal government.

The refinery has been processing Russian oil for decades. It supplies the bulk of the jet fuel for Berlin Airport and gasoline for cars in the region. The federal government has been hoping for months that Rosneft would sell its share in Schwedt.

Rosneft Deutschland and another subsidiary, Rosneft Refining and Marketing GmbH, were put under the trusteeship in September 2022. It has been extended twice since then.

The trusteeship expires in March, so by then, the government must decide whether to extend it again.

Author: Vladyslav Kudryk

Support independent journalism in Ukraine. Join us in this fight.

Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.

Comments

News Feed

9:47 AM

Russian attacks against Ukraine injure 7 over past day.

Russia targeted a total of nine Ukrainian oblasts — Chernihiv, Mykolaiv, Luhansk, Dnipropetrovsk, Sumy, Kherson, Kharkiv, Zaporizhzhia, and Donetsk. Casualties were reported in the latter three regions.

8:49 AM

Latvia donates energy equipment to Ukraine after Russian attacks on infrastructure.

The Latvian state-owned company Latvenergo provided Ukraine with equipment to restore the energy system after Russian attacks, the Delfi media outlet reported on April 28.

8:41 AM

Military intelligence: Telegram blocks several Ukrainian government chatbots.

Chatbots of Ukraine's military intelligence agency (HUR), the Security Service of Ukraine (SBU), or the Digital Transformation Ministry, which were used, for example, to gather information on Russian troops in occupied territories, have disappeared from Telegram and are unavailable as of April 29.

8:04 AM

General Staff: Russia has lost 467,470 troops in Ukraine since Feb. 24, 2022.

This number includes 1,320 casualties Russian forces suffered just over the past day.

7:09 AM

Mediazona confirms identities of over 51,600 Russian soldiers killed in Ukraine.

Through open-source research, Mediazona, a Russian independent media outlet, together with BBC Russia, confirmed the names of 51,679 Russian soldiers who had been killed since the beginning of Russia's full-scale invasion of Ukraine in February 2022.

5:41 AM

ISW: Russia unlikely to achieve significant near-term gains near Avdiivka, despite limited Ukrainian retreat.

Russian forces are unlikely to achieve "operationally significant penetration" in the areas west of Avdiivka in Donetsk Oblast, despite limited Ukrainian troop withdrawals in surrounding villages, the U.S.-based think tank Institute for the Study of War (ISW) assessed on April 28.

4:14 AM

FT: Turkey in talks with ExxonMobil to secure LNG deal, aims to reduce reliance on Russian natural gas.

Turkey is in talks with ExxonMobil to secure a long-term liquified natural gas (LNG) deal worth billions of dollars, aiming to diversify its energy sources, says Turkish Energy Minister Alparslan Bayraktar. The potential agreement could provide up to 2.5 million tons of LNG annually for 10 years.

2:44 AM

Opposition rally held in Tbilisi denouncing 'foreign agents' law.

On April 28 in Tbilisi, Georgia, an opposition rally opposing the foreign agents law occurred, starting from Republic Square and culminating at the Parliament. Participants chanted slogans denouncing the legislation and projecting messages onto the Parliament building, including “No to the Russian law.”

1:32 AM

Russia attacks 10 communities in Sumy Oblast.

Russian forces attacked ten border areas and settlements of Sumy Oblast on April 28, firing 35 times and causing at least 127 explosions, the Sumy Oblast Military Administration reported.

12:47 AM

Opinion

The Counteroffensive: Behind the scenes with a Ukrainian drone-hunting unit

11:28 PM

Ukraine war latest: Ukrainian forces retreat from 3 villages as Russia gains foothold on eastern front

11:01 PM

Military intelligence: 2 locomotives destroyed in Russia.

Two diesel locomotives have been destroyed in Russia over the past few days, Ukraine's military intelligence (HUR) reported on April 28.

9:03 PM

Russia detains 2 journalists on 'extremism' charges, accuses them of having worked with Navalny.

Two Russian journalists were detained on "extremism" charges in Russia on April 28 for having allegedly worked for a group founded by the late Russian opposition leader Alexei Navalny.

8:01 PM

Polish FM: Returning draft-aged men to Ukraine is 'ethically ambiguous.'

Returning men of draft age to Ukraine is "ethically ambiguous" and Ukraine will thus have to "take the in initiative" in the process, Polish Foreign Minister Radoslaw Sikorski said in an interview with Polish channel TVN24 on April 27.

5:58 PM

DTEK: Russia has attacked Ukraine's thermal power plants nearly 180 times since the start of full-scale invasion.

Moscow has recently intensified its missile and drone strikes against Ukraine's critical infrastructure, launching large-scale attacks on energy facilities across the country on March 22, March 29, April 11, and April 27.

5:36 PM

Syrskyi: Ukrainian forces retreat west from 3 villages in Donetsk Oblast.

The villages are in the Pokrovsk District in the western part of Ukraine's Donetsk Oblast, which remains one of the hottest sectors of the front line as Russia continues its offensive.

4:05 PM

Polish FM: Trump's stance on Ukraine is 'not as black and white.'

Radoslaw Sikorski said he hoped that Donald Trump realized that opposition to helping Ukraine "is not actually popular in the U.S." and is harming his chances to be re-elected.

2:48 PM

Russian attacks in Kharkiv Oblast injure 2 civilians.

Russian troops struck the cities of Kupiansk and Vovchansk in Kharkiv Oblast on April 28, injuring two people, local authorities reported.

2:00 PM

Border Guard: Bodies of 2 men pulled out of Tysa River.

Ukrainian border guards found the bodies of two men in the Tysa River in Zakarpattia Oblast on the evening of April 27, the State Border Guard Service reported.

1:26 PM

Prosecutor's Office: Over 2,500 gambling websites blocked in Ukraine.

More than 2,500 gambling websites that had operated without a license were blocked in Ukraine as of April 27, the Prosecutor General's Office reported.

12:05 PM

Russia claims 17 drones shot down, including near Kaluga Oblast's oil depot.

Two drones were shot down over Belgorod Oblast, three over Kursk Oblast, three over Kaluga Oblast, and nine over Bryansk Oblast overnight on April 28, the Russian Defense Ministry claimed.

11:18 AM

Russian stabbed to death two Ukrainian soldiers in Germany.

The men born in 1987 and 2001 were in a medical rehabilitation in Germany.

10:06 AM

Russia attacks Ukraine with 9 drones overnight, damaging hotel in Mykolaiv.

Russia attacked Ukraine with nine drones overnight on April 28, Air Force Commander Mykola Oleshchuk reported. Five of them were shot down by the Ukrainian forces.

9:26 AM

General Staff: Russia has lost 466,150 troops in Ukraine since Feb 24, 2022.

This number includes 1,096 casualties Russian forces suffered just over the past day, the General Staff of Ukraine's Armed Forces reported on April 28.

6:06 AM

Tajikistan recommends its citizens refrain from traveling to Russia.

A Russian law enforcement officer patrols near the Crocus City Hall concert hall outside Moscow, Russia, on March 23, 2024, after the terrorist attack that killed at least 144 people. Photo for illustrative purposes. (Stringer/AFP via Getty Images)

MORE NEWS