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Germany extends trusteeship over Rosneft properties, sources state

Germany will extend its trusteeship over the regional units of Russia's Rosneft for six more months in anticipation of a sale of the possessions to Qatar, two individuals knowledgeable about matter told Reuters on Monday.

The future of Rosneft's German assets, that include a. 54.17% stake in the PCK Schwedt refinery, has yet to be fixed. after Berlin efficiently took control of them following Moscow's. invasion of Ukraine.

A trusteeship that puts Germany in charge of the department. while leaving ownership with Rosneft has actually currently been extended. 3 times to safeguard Schwedt's supply and to give Rosneft time. to discover a buyer for its stake.

The people, who might not be named due to the fact that they were not. authorised to speak openly, said a decision to extend the. trusteeship, which is set to end on Sept. 10, as soon as again has. been made.

Germany's Economy Ministry was not immediately offered for. comment.

Among individuals said the trusteeship extension was made to. allow Rosneft to work out a sale of its German possessions to Qatar,. which has a long history of purchasing Germany and is the. greatest single shareholder in RWE, the nation's. greatest power producer.

Rosneft's German activities likewise include stakes in the MiRo. and Bayernoil refineries.

The German government recently validated regular exchanges. had actually accompanied Qatar concerning financial investment opportunities. over the last three months, without specifying whether a. possible purchase of Rosneft properties was among the talking. points.

The refinery is co-owned by Shell and Eni. In December, Shell revealed the sale of its 37.5% stake in the. refinery to Britain's Prax Group.

(source: Reuters)