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On Friday, it announced that an oil company in Germany that was once under the control of a Russian oil giant is now under the control of the German government.
The German government said it had taken control of Rosneft Deutschland GmbH and RN Refining & Marketing GmbH, two companies so far owned by the multinational oil and gas company Rosneft. The government said the move would ensure continued oil production as the international community looked to reduce its dependence on Russia.
The German Economy Ministry said on Friday that the companies would come under the control of the Federal Network Agency. The ministry also said the agency would take control of shares in companies in three refineries: BCK Schwidt, Miro and Birnwell.
The ministry said the acquisition will last six months.
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The Schwedt refinery supplies about 90% of Berlin’s fuel, and Rosneft Deutschland is one of the country’s largest oil processing companies, accounting for 12% of Germany’s oil refining capacity, Reuters reported.
The move comes amid a larger package from the German government to search for alternatives to Russian oil, which it plans to announce later Friday. Rosneft said earlier that it had no plans to stop importing Russian oil.
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The EU embargo on Russian oil is due to be imposed on January 1, 2023.
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Russia continues its ongoing invasion of Ukraine, which began on February 24, 2022.
The Associated Press contributed to this report.