Germany Takes Management of Oil Refineries Owned by Russia’s Rosneft

BERLIN—Germany took management of the German enterprise of Russian oil big Rosneft Oil Co. as Berlin races to safeguard its vitality provides earlier than its deliberate ban on Russian oil imports kicks in later this 12 months.

The German authorities mentioned it might place Rosneft’s German subsidiaries beneath trusteeship. The enterprise’s flagship asset is the PCK refinery in Schwedt, japanese Germany, that gives Berlin and the encompassing area with a lot of its gasoline and plane gasoline. Rosneft’s Germany belongings make up a complete of round 12% of the nation’s oil-processing capability, making it one of many largest oil-processing firms within the nation.

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