The European Commission has approved the de facto nationalization of former Rosneft assets in Germany – Rosneft Deutschland and RN Refining & Marketing, according to a statement by the European Commission.
„The European Commission has approved, under EU merger law, the transfer of Rosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RN R&M) under the full control of the German Federal Ministry of Economic Affairs and Energy, the European Commission noted.
The oil refining and petrochemical facilities, as well as the companies for the wholesale trade of oil and petroleum products, have been transferred to the control of the German state.
In Germany, the decision to nationalize these companies was taken in the fall of 2022, but the approval process for this operation by the European Commission, which acts as the regulator of the EU market, is only now being completed.