- Discussion: U.S. Administration Engages with Qatar Regarding Rosneft Subsidiaries and PCK Companies
Recently, just before the tentative conclusion of the overseer supervision over two German branches of the Russian state-owned corporation Rosneft, the German administration is reportedly engaging in dialogue with the oil-rich nation of Qatar. According to "Business Insider", the State Secretary in the Chancellery, Joerg Kukies, has communicated with the head of the Qatari sovereign fund, Mansur al-Mahmud, on four different occasions.
Official correspondents affirmed the contacts to dpa, however, refrained from disclosing the substance of the discussions. According to "Business Insider's" sources, discussions regarding the acquisition of Rosneft shares from Qatar have commenced. This information was also verified by dpa's sources.
Central to these negotiations is the significant German refinery PCK in Schwedt, Brandenburg, which is predominantly possessed by the German subsidiaries of Rosneft. These entities have been under trustee administration by the federal government since September 2022. This decision stemmed from the federal government's resolution to discontinue importing Russian oil due to the Ukraine conflict. At the beginning of 2023, PCK transitioned to alternative supply sources.
Currently, the uncertainty surrounds the fate of the Russian shares. Rosneft declared its intention to sell these shares in the spring. Given that the trustee arrangement, which is extended for six months at a time, has been extended once again, it currently extends until September 10 and could potentially be prolonged again.
The Left Party's Christian Goerke described the federal government's possible sale to Qatar as "unsavory." Qatar already possesses 20% of the Rosneft conglomerate. If the German subsidiaries are sold, "Russia would still maintain an indirect influence," said Goerke. Instead, the federal government should acquire the shares themselves, argued Goerke: "It's unacceptable that such a crucial structural component is sold like a commodity."
The German subsidiaries of Rosneft, currently under trustee administration, are predominantly responsible for operating the Swedish refinery PCK in Schwedt. Despite the intention of Rosneft to sell its shares, the uncertainty around their fate continues, as the trustee arrangement could be extended again.
