FRANKFURT, Feb 20 (Reuters) – The European Commission on Friday said it had approved the “acquisition of sole control” of Rosneft’s German assets by the German economy ministry.
A spokesperson for the Commission, which is the European Union’s executive body, said the move merely approves the new trusteeship regime, meaning it essentially will be extended indefinitely until a new structure emerges.
Rosneft did not immediately reply to a request for comment.
The Russian company’s German arm owns a controlling stake in the PCK oil refinery, which supplies most of Berlin’s fuel, including to its airport, petrol to pumps across eastern Germany and key ingredients to the local chemicals industry.
The assets, which include stakes in the MiRo and Bayernoil refineries, were placed in the German government’s trusteeship, in 2022 after Moscow’s invasion of Ukraine rocked Germany’s decades-long energy ties with Russia.
The trusteeship arrangement so far has been renewed every six months.
(Reporting by Christoph Steitz, additional reporting by Olesya Astakhova, writing by Thomas Seythal, editing by Friederike Heine and Ludwig Burger)