German Government Extends Rosneft Trusteeship Until September
- Move should give Rosneft time to prepare sale of German units
- Local units were seized following Russia invasion of Ukraine
A Rosneft oil refinery in Schwedt, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Germany will extend its trusteeship over the local subsidiaries of Russia’s state energy giant Rosneft PJSC for a third time, a step that will avoid the business being nationalized and help pave the way for Moscow’s sale of the entity.
The state’s trusteeship over the two units was set to expire on Sunday and will now run until September 10, the economy ministry said in a statement Thursday. The government decided on the measure after the Russian owners agreed to sell the units within the extension period, it said.