Germany relaxes restrictions to expedite sale of Rosneft's stake in the Schwedt refinery

Germany plans to adjust its Energy Security Act to allow a quick sale of Russian energy group Rosneft's stake in the Schwedt refinery without the need for prior nationalization, a draft law showed.

Under the planned adjustment to the law, the condition of prior nationalization of assets put under government trusteeship could be withdrawn if the sale of the assets is needed to ensure that Germany's energy sector remains functional, the draft law, seen by Reuters on Thursday, showed.

Germany took control of the Schwedt refinery, which was majority owned by Rosneft, and put Rosneft Deutschland under a trusteeship of the German industry regulator but Rosneft still holds 54.17% of the refinery.

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