Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: The settlers wrote the word “revenge” in the site and uprooted dozens of olive trees
Israeli media: Settlers set ablaze a farm in the town of Deir Dibwan in the West Bank
Kurdistan Workers' Party (PKK) claims responsibility for Ankara attack
British Defense Minister Grant Shapps: We are deploying RAF Typhoons to Poland
British Defense Minister Grant Shapps announces a 4 billion pound ($4.9 billion) deal to build attack submarines
Turkish President Recep Tayyip Erdogan: We have waited 60 years at the doorstep of the European Union. We are no longer waiting.
Al Mayadeen correspondent: One civilian martyred, another injured by Saudi Arabia's armed forces in Saada, Yemen.
The Turkish authorities have banned media from broadcasting at the scene of an attempted terrorist attack that hit the capital near Parliament earlier.
An explosion and gunfire heard in Turkey’s capital Ankara near the parliament and the ministries.
US House 45-day stopgap funding bill with no aid for Ukraine gets enough votes.

Berlin takes control of Russian energy Giant Rosneft in Germany

  • By Al Mayadeen English
  • Source: Agencies
  • 16 Sep 2022 11:06
  • 5 Shares
  • x

Germany is taking control of Russian companies on its territories as the German economy staggers under the weight of the self-imposed sanctions-induced energy crisis.

  • Lignite Power Plant in Neurath, Germany (Shutterstock)
    Lignite Power Plant in Neurath, Germany (Shutterstock)

The German government announced on Friday that it was taking control of the German operations of Russian energy firm Rosneft in a bid to secure energy supplies affected by the European sanctions on Russia in the wake of the Ukraine war.

Germany placed the German subsidiaries of Rosneft under the trusteeship of the Federal Network Agency, the economy ministry said in a statement.

"The trust management will counter the threat to the security of energy supply," it said, as Rosneft's subsidiaries make up around 12% of the country's oil refining capacity.

The companies affected by the decision are Rosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RNRM), in addition to PCK Schwedt, MiRo, and Bayernoil, all of which are refineries.

PCK Schwedt, in particular, is highly vital for Germany, as it supplies around 90% of the oil consumed in Berlin and its vicinity, including the Berlin-Brandenburg international airport.

By circumventing their own sanctions aimed at punishing Russia for the Ukraine war, Berlin taking control of the sites allows it to continue operating the refineries using crude from countries other than Russia.

Germany, like the rest of Europe, has been struggling in light of the meager amount of Russian energy making it to the continent due to the sanctions, prompting various measures from local governments and the European Commission to try and tackle the spiraling energy crisis.

Related News

Economists warn of worse days to come for Germany: The Telegraph

Rich countries breach climate promises, increase fossil fuel spending

The European Commission had prepared suggestions on measures aimed at tackling soaring energy prices to be discussed by the energy ministers of the bloc’s member states. The suggestions include the proposal to introduce a price cap on Russian natural gas.

However, the bloc failed to agree on the cap, Hungarian Minister of Foreign Affairs Peter Szijjarto revealed Friday.

EU chief Ursula von der Leyen proposed that the bloc's 27 nations agree on placing a price cap on Russian gas imports.

Von der Leyen's decision comes as a means of imposing further sanctions on Russia as the West looks for more means of punishing the country over the war in Ukraine.

13 EU nations have either ceased getting Russian gas entirely or are only receiving a portion of it due to the temporary blockage of the Nord Stream 1 pipeline, the Russian TASS news agency reported last week.

Surging costs of power linked to gas prices have already stunted the production of various industries, such as fertilizers and aluminum manufacturers, and prompted EU governments to increase their spending by billions in order to help their citizens.

Italy and Germany are now the two largest European countries most exposed to a gas supply shock due to their extensive use of natural gas and significant reliance on Russia, according to S&P Global Ratings.

About 60% of Germany's natural gas supply was piped in from Russia in 2020, primarily under long-term contracts.

  • Energy crisis
  • Europe
  • Ursula von der Leyen
  • Russia
  • Germany
  • Berlin
  • Ukraine
  • European Union
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

BBC from the front lines in Ukraine: It's bad, counteroffensive failed

BBC from the front lines in Ukraine: It's bad, counteroffensive failed

  • Europe
  • 28 Sep 2023
Zelensky joins Canadian Parliament’s ovation to WWII Nazi soldier

Zelensky joins Canadian Parliament’s ovation to WWII Nazi soldier

  • US & Canada
  • 25 Sep 2023
Who Would Ally with the West: ‘It’s Boring – The Real Excitement is in Asia’

Who Would Ally with the West: ‘It’s Boring – The Real Excitement is in Asia’

  • Analysis
  • 30 Sep 2023
How Hezbollah Burnt the Naqab Forest, The Abbassiye Landing Operation

Al Mayadeen documentary: How Hezbollah burnt the IOF's Naqab Forest

  • MENA
  • 24 Sep 2023

Coverage

All
Morocco & Libya Disasters

Read Next

All
sd
MENA

Islamic unity vital to counter US, Israeli plots, aggression: Raisi

DPRK flag
Asia

DPRK assimilates NATO, US alliance with Japan, South Korea to cancer

President Joe Biden signs H.J.Res.100, a bill that aims to avert a freight rail strike, in the Roosevelt Room at the White House, Friday, Dec. 2, 2022, in Washington. (AP)
US & Canada

Biden signs 45-day spending bill averting government shutdown

European Union foreign policy chief Josep Borrell speaks with the media as he arrives for an EU summit at the European Council building in Brussels, Thursday, June 29, 2023. (AP)n Ukrainian Port
Europe

Borrell sheds crocodile tears over Odessa after slew of drone attacks

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS