Germany seizes Rosneft refineries
Germany’s government has taken control of Russian oil major Rosneft’s refining assets, placing the Rosneft stakes of three of Germany’s largest refineries under the trusteeship of the Federal Network Agency. Schwedt’s reliance on Russian crude, supplied via the North Druzhba pipeline, had posed a dilemma for Germany in light of EU sanctions. The takeover opens up the possibility of utilising Polish infrastructure to import crude alternatives to Schwedt - Warsaw made this option conditional upon an end to Schwedt’s Russian ownership. This Insight explores Rosneft's German assets and how Schwedt refinery in particular will source crude alternatives. Will the expropriation be able to secure refined product supply?