Germany Takes Control of Russian-Owned Rosneft Refinery

Germany Takes Control , of Russian-Owned , Rosneft Refinery.

On September 16, Germany took control of a major Russian-owned oil refinery, raising concerns of retaliation from Moscow.

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Reuters reports that Berlin is looking to shore up energy supplies and reach its European Union goal of eliminating Russian oil imports by the end of 2022.

Reuters reports that Berlin is looking to shore up energy supplies and reach its European Union goal of eliminating Russian oil imports by the end of 2022.

According to Germany's economy minister, a unit of Russian oil firm Rosneft will be put under the trusteeship of the industry regulator.

According to Germany's economy minister, a unit of Russian oil firm Rosneft will be put under the trusteeship of the industry regulator.

Rosneft's Schwedt refinery, which supplies 90% of Berlin's fuel, will be taken over by Germany.

This is a far-reaching energy policy decision to protect our country, Olaf Scholz, German Chancellor, via Reuters.

According to Chancellor Olaf Scholz, the Schwedt refinery would be placed under the control of the Federal Network Agency regulator.

Russia, we have known for some time, is no longer a reliable energy supplier.

We did not take this decision lightly, but it was unavoidable, Olaf Scholz, German Chancellor, via Reuters.

Reuters reports that EU nations have been racing to prop up their power providers and secure fuel deliveries.

Moscow has retaliated for far-reaching sanctions by reducing gas flows and has threatened to shut off all access.

The actions by Russia have sent the price of gas soaring and raised the prospect of energy rationing throughout Europe this winter.

The actions by Russia have sent the price of gas soaring and raised the prospect of energy rationing throughout Europe this winter.

Europe has been grappling with threats from Russia to halt the flow of gas through the Nord Stream 1 pipeline, which supplies most of the gas that powers Europe's biggest economy.

Europe has been grappling with threats from Russia to halt the flow of gas through the Nord Stream 1 pipeline, which supplies most of the gas that powers Europe's biggest economy