The German government took control of two subsidiaries of the Russian Rosneft

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The German government took control of Rosneft Deutschland GmbH and RN Refining & Marketing GmbH, two companies owned up until now by multinational oil and gas company Rosneft. There were concerns in Berlin that the Russian firm would simply suspend operations at the plant, rather than use non-Russian oil.German’s Economy Ministry also said Germany will assume control of the companies’ shares in three refineries: PCK Schwedt, MiRo and Bayernoil. He said the move was necessary to counteract an impending threat to energy security. It’s too a symbol of the vast changes imposed on Europe’s energy sector by the conflict.

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The Schwedt refinery supplies about 90% of Berlin’s fuel and Rosneft Deutschland is one of the largest oil processing companies in the country. Germany needs to stop Russian oil imports by the end of the year under European sanctions imposed over Russia’s invasion of Ukraine. There was no immediate reaction from Moscow on Friday, which is already squeezing gas supplies to Europe.