The German government is taking over the Russian oil giant Rosnefts refineries in the country to secure supplies during an energy crisis sparked by Russias invasion of Ukraine, Germanys economy ministrysaid Friday.The move places two Rosneft subsidiaries under the trusteeship of the ministrys electricity and gas regulator, the Federal Network Agency, for the next six months.The trustee administration counteracts the impending threat to the security of the energy supply, Germanys economy ministry said in a statement.It noted that the subsidiaries ownership by Rosneft endangered operations at the refineries.Central critical service providers such as suppliers, insurance companies, IT companies and banks, but also customers, were no longer willing to work with Rosneft.Rosneft is among the largest oil processing companies in Germany, with its seized Rosneft Deutschland GmbH and RN Refining - Marketing GmbH units accounting for 12% of the countrys oil refining capacity.Germanys trusteeship extends to Rosneft Deutschlands three refineries in northeastern and southern Germany.One of them, PCK Schwedt, has been of particular concern because it supplies around 90% of the oil consumed in Berlin and the surrounding area, according to AFP.Germanys Federal Network Agency in Aprilassumedmanagement over the Russian gas giant Gazproms subsidiary, Gazprom Germania, until Sept.
30.Germany is set to halt imports of Russian oil by the end of 2022 as it seeks to reduce energy dependence on Russia following the Ukraine invasion.