⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

Russia's Rosneft takes first step for constitutional lawsuit against German trusteeship

Published 16/08/2023, 17:21
© Reuters. FILE PHOTO: Model of natural gas pipeline and Rosneft logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
ROSN
-

BERLIN (Reuters) - Russian oil company Rosneft has taken a first step for constitutionally challenging the German government trusteeship on its German subsidiaries, its lawyers said on Wednesday.

In March, a court threw out a case brought by Rosneft against Berlin's move. The court said the German government's September decision was out of concern that disruptions in the supply of Russian oil could prevent Rosneft's German subsidiaries from getting sufficient supplies for Berlin's main refinery, Schwedt, which the court said was within the government's mandate.

A day after the court decision, Berlin extended its trusteeship for six more months.

Malmendier Legal, the law firm hired by Rosneft, on Wednesday said its analysis of the court's reasoning found that Rosneft's numerous arguments were not heard and its requests for evidence were not followed up.

The company filed a 32-page notice of appeal with the Federal Administrative Court on Monday for not sufficiently hearing its evidence and arguments, the law firm said.

"Such hearing objections are filed in preparation for a constitutional complaint concerning a violation of the right to be heard," Malmendier Legal added in a statement on LinkedIn.

© Reuters. FILE PHOTO: Model of natural gas pipeline and Rosneft logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Rosneft is also preparing other appeals to the European Court of Human Rights, Investment Protection Arbitration Court and the European Court of Justice, it added.

The German Economy Ministry declined to comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.