Fiduciary management of Rosneft Deutschland GmbH and RN Refining & Marketing GmbH
By order of the Federal Ministry for Economic Affairs and Climate Action (BMWK) on 16 September 2022, the Bundesnetzagenturwas appointed fiduciary of Rosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RNRM) on the basis of section 17(1) to (5) and (8) of the Energy Security of Supply Act (EnSiG).
The decision was prompted by the fact that contractual partners and even companies with stakes in RDG and RNRM were parting ways from them owing to the market uncertainties caused in particular by the close ties to Russia and the sanctions imposed on Russia. The settlement of remaining contractual arrangements was thus subject to considerable delays. The aim of the fiduciary management is also to prevent a refusal to provide operationally necessary services from hindering the business, especially with regard to critical operational processes.
The Federal Administrative Court (BVerG), as the court of first and last instance, confirmed the legality of the order of fiduciary management in a ruling of 14 March 2023.
Press release of the Federal Ministry for Economic Affairs and Climate Action:
Federal Administrative Court dismisses Rosneft’s lawsuit – order for trusteeship lawful
Urteil des Bundesverwaltungsgerichts vom 14. März 2023 - BVerwG 8 A 2.22 (in German)
In its ruling, the BVerwG stressed that the order was in all respects in line with the provisions of the EnSiG as measured by the factual and legal situation at the time of its issuance. It had, in particular, been suitable and necessary to combat the risks to security of supply known and forecast at that time.
As BVerwG is responsible as the court of first and last instance for the action under the EnSiG, the judgment has brought legal and planning certainty for parties involved in the proceedings.
The BMWK has most recently extended the fiduciary management until 10 September 2024 in an order dated 7 March 2024.
The Bundesnetzagentur has appointed Dr Johannes Bremer and Udo Giegerich as managing directors of both RDG and RNRM.
The Bundesnetzagentur has drawn up a Letter of Comfort to reduce possible market uncertainty on the part of business partners, banks, service providers and customers.
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The Bundesnetzagentur is fiduciary of Rosneft Deutschland GmbH and RN Refining & Marketing GmbH (16 September 2022)