Germany plans to extend its trusteeship over Rosneft’s local units for the fifth time as a sale to Qatar’s wealth fund stalls.A German economy ministry spokesperson confirmed the extension.
Rosneft has sought to sell its German subsidiaries since Berlin seized them after Russia’s Ukraine invasion.Qatar Investment Authority, already holding a 19% Rosneft stake, remains the sole bidder and appointed advisers last year.Qatari concerns over Germany’s economy and post-election climate have stalled Rosneft’s sale, sources say.
The economy ministry denies political barriers.Rosneft’s units hold stakes in three German refineries, including Schwedt’s PCK, which has struggled since losing Russian crude.With the deal delayed, ownership uncertainty remains. The trusteeship, expiring March 10, will be extended until September.
The German economy ministry spokesperson stated that the government is not involved in the contract or negotiations. Both Rosneft Deutschland and the Qatari wealth fund declined to comment.“I expect the Russian owners to finalize the sale soon,” said Michael Kellner, a parliamentary state secretary, after meeting Schwedt stakeholders on Wednesday.
