FSUOGM: Germany mulls nationalisation of Rosneft assets
Germany is considering the nationalisation of Rosneft's assets within its borders, the Russian oil giant’s lawyers said on February 8. The revelation prompted a stern warning by Kremlin spokesperson Dmitry Peskov, who warned that such a move would undermine investor confidence and erode Europe's overall investment attractiveness.
Rosneft's law firm in Germany, Malmendier Legal, has vowed to take all necessary measures to protect shareholders' rights. The firm said nationalisation was an unprecedented step for Germany that would forever harm investment security in the country.
Nationalisation is being considered as the next step as the government’s temporary seizure of Rosneft’s assets, in the form of trusteeship, nears its expiry in March. The assets at stake include Rosneft’s 54.17% interest in the Schwedt refinery. Russian media estimates the value of Rosneft’s business in the country at $7bn.
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