{"id":13719,"date":"2026-02-23T12:56:07","date_gmt":"2026-02-23T09:56:07","guid":{"rendered":""},"modified":"2026-02-23T12:56:07","modified_gmt":"2026-02-23T09:56:07","slug":"eu-clears-german-state-takeover-of-rosneft-subsidiaries","status":"publish","type":"post","link":"https:\/\/harici.com.tr\/en\/eu-clears-german-state-takeover-of-rosneft-subsidiaries\/","title":{"rendered":"EU clears German state takeover of Rosneft subsidiaries"},"content":{"rendered":"

The European Commission has formally cleared the German Federal Ministry for Economic Affairs and Climate Action to assume full control over Rosneft\u2019s primary German subsidiaries, Rosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RN R&M).<\/p>\n

In a statement<\/a><\/span> released on its official website, the Commission concluded that the transaction raised no antitrust concerns given the limited market share held by the entities in question. The review was conducted under a simplified merger procedure.<\/p>\n

Berlin establishes permanent control over assets<\/strong><\/p>\n

This regulatory approval<\/a><\/span> paves the way for German authorities to establish permanent state control over the Rosneft assets, moving beyond the temporary trusteeship model currently set to expire on March 10, 2026.<\/p>\n

Alexei Belogoryev, Research Director at the Institute for Energy and Finance (IEF), told<\/a><\/span> the RBC news outlet that the situation is unique because current valuations from two independent auditing groups\u2014representing both Rosneft and the German Ministry for Economic Affairs\u2014are already on the table.<\/p>\n

Government appears ready to negotiate<\/strong><\/p>\n

Belogoryev noted that while Rosneft\u2019s \u20ac6.5 billion valuation could serve as a baseline for the total cost, the reality of the deal likely lies closer to Berlin\u2019s figures.<\/p>\n

“The German audit\u2019s estimate of \u20ac3.5 billion to \u20ac4 billion, which factors in a sanctions discount, likely reflects the upper limit of what the German government is prepared to negotiate,” Belogoryev said. “Unfortunately, this figure is much closer to the transaction\u2019s actual market value. Berlin and the European Commission intend to conduct the process amicably, seeking Rosneft\u2019s consent. The goal is to ensure the transaction does not appear to international investors as a disguised confiscation and to avoid years of litigation. However, if no agreement is reached on the price, the government could formally conclude the process by transferring what it deems a fair amount into a blocked escrow account.”<\/p>\n

Washington and Berlin agree on sanctions<\/strong><\/p>\n

Following the US decision to impose sanctions on Rosneft in October 2025, German Chancellor Friedrich Merz reportedly held talks with Washington to secure an exemption for the company\u2019s German subsidiaries.<\/p>\n

The management of Rosneft\u2019s German structures was originally transferred to the Federal Network Agency in late 2022. During this period, the company\u2019s stakes in the PCK Raffinerie (54.17%), MiRO (24%), and Bayernoil (28.57%) refineries were placed under state trusteeship.<\/p>\n

Rosneft challenged Berlin’s move in court, characterizing it as a de facto expropriation. However, in early 2023, a court in Leipzig dismissed the lawsuit, ruling the government\u2019s actions lawful based on the risk that the subsidiaries could fail to meet energy supply obligations.<\/p>\n

The Russian energy giant maintained that it had fulfilled all regulatory requirements and had not disrupted product deliveries. By early 2024, the German Ministry of Economics announced that the formal process for the sale of the assets had commenced.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The European Commission has formally cleared the German Federal Ministry for Economic Affairs and Climate Action to assume full control over Rosneft\u2019s primary German subsidiaries, Rosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RN R&M). In a statement released on its official website, the Commission concluded that the transaction raised no antitrust concerns […]<\/p>\n","protected":false},"author":1,"featured_media":13720,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[3],"tags":[16667,11964,16665,3996,3865,3565,2518,16666,2320,543,16664,9215,9470,16663,16668,8893,16662,659,821],"class_list":["post-13719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe","tag-alexei-belogoryev","tag-asset-seizure","tag-bayernoil","tag-berlin","tag-energy-security","tag-energy-transition","tag-european-commission","tag-federal-network-agency","tag-friedrich-merz","tag-germany","tag-miro","tag-nationalization","tag-oil-refineries","tag-pck-raffinerie","tag-rn-refining-marketing-gmbh","tag-rosneft","tag-rosneft-deutschland-gmbh","tag-sanctions","tag-us"],"yoast_head":"\nEU clears German state takeover of Rosneft subsidiaries - 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