Germany seizes control of 3 oil refineries owned by Russia's Rosneft to brace for winter energy crisis
The move puts shares of the refineries — PCK Schwedt, MiRo in Karlsruhe and Bayernoil in Vohburg — under the control of a government agency, Germany's economy ministry "The trustee administration counteracts the impending threat to the security of the energy supply and lays an important foundation for the preservation and future of the Schwedt location," it said.
Rosneft Deutschland accounts for 12% of Germany's oil processing capacity, making it one of the biggest oil processing companies in the country, the ministry said. Germany imports crude oil worth several hundred million dollars from Russia each month via its units, it added.
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