Friday, May 6, 2022

German economy minister to visit Russian-owned Schwedt oil refinery trying to expropriate it.

German Economy Minister Robert Habeck was expected to visit the PCK oil refinery in Brandenburg on Monday, where he is to hold talks with its management and staff as part of efforts to reduce Germany’s dependence on Russian fossil fuels, his ministry announced.

The refinery is controlled by state-owned Russian oil company Rosneft and is a key factor in Germany’s failure to rapidly reduce its dependence on Russian oil supplies in the medium term.

In view of the planned EU embargo on Russian oil, Habeck has raised concerns about potential supply issues, especially in eastern Germany.

Habeck has announced his intention to tackle the issue several times, with some observers suggesting that he might use an amendment to the Energy Security Act currently making its way through the Bundestag, which would allow the federal government to place the refinery under state trusteeship or even to expropriate it.

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