Skip to Content
AP National Business

Germany takes control of 3 Russian-owned oil refineries

KVIA
By
Published 11:37 PM

By FRANK JORDANS
Associated Press

BERLIN (AP) — Germany is taking control of three Russian-owned refineries to ensure energy security before a European Union embargo on oil from Russia takes effect next year. German officials said Friday that two subsidiaries of Russian oil giant Rosneft would be put under the administration of a German government agency. As a result, the agency will also control the companies’ shares in the refineries in Germany. Chancellor Olaf Scholz said the move was “a far-reaching energy policy decision to protect our country” and that “Russia isn’t a reliable supplier of energy anymore.” Rosneft accounts for about 12% of Germany’s oil refining capacity. It previously made clear it had no intention to stop importing oil to Germany. the

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KVIA ABC 7 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content