Tip News

February 20, 2018

Russia nominates Gerhard Schroeder for Rosneft board

Russia nominates Gerhard Schroeder for Rosneft board
'Former German Chancellor Gerhard Schroeder has forged a business career in Russia since quitting political office' - By: AFP SASCHA SCHUERMANN

Moscow (AFP) - The Russian government has nominated former German Chancellor Gerhard Schroeder, a close friend of President Vladimir Putin, to join the board of Rosneft, the energy giant under Western sanctions.

Schroeder was among seven nominees in a decree signed by Prime Minister Dmitri Medvedev published on the Russian government's website late Friday. The names will go to a shareholders' vote in late September in a move to increase Rosneft's board from nine to 11.

Schroeder was nominated as a non-executive director of Rosneft, a company born out of Yukos, a state entity that later came under the control of government opponent Mikhail Khodorkovsky.

Rosneft has been dogged by a string of legal claims from New York to Paris and Amsterdam since snaffling up Yukos after it was dismantled following Khodorkovsky's high-profile arrest in 2003 and jailing.

Friday's decree also named Rosneft director general Igor Sechin, a close ally of Putin, Kremlin official Andrei Belousov and Energy Minister Alexander Novak as the state's representatives on the board.

Rosneft, Russia's biggest oil producer, is 50 percent state-owned.

Schroeder, a Social Democrat who was German chancellor from 1998 to 2005, celebrated his 70th birthday in a palace in St Petersburg during the crisis over Ukraine. He has publicly opposed sanctions placed on Rosneft because of Russia's interference in Ukraine.

While chancellor, Scroeder championed a Nord Stream pipeline agreement with Russia, which was signed during his last days in office.

Having since built a business career in Russia he heads up a shareholders' committee at Nord Stream, which supplies gas to Germany via the Baltic Sea.

Short link: https://tipnews.com/u/MTg3MDI=

See also:

Related articles

Qualcomm boosts bid for NXP as it fends off bid from Broadcom

Qualcomm boosts bid for NXP as it fends off bid from Broadcom

US mobile chipmaking giant Qualcomm on Tuesday raised its bid for Dutch rival NXP to an estimated $43 billion as the California-based firm moved to fend off a hostile offer from Singapore's Broadcom.The new bid amounts to $127.50 per NXP share and aims to sat

Trump, Mexican president talk security, trade, migration

Trump, Mexican president talk security, trade, migration

US President Donald Trump and his Mexican counterpart Enrique Pena Nieto agreed to boost cooperation on security, trade and migration in a phone call Tuesday, both countries said.Tension between the two countries has soared over Trump's anti-Mexican rhetoric,

France's Jean-Marie Le Pen defends Vichy leader in memoirs

France's Jean-Marie Le Pen defends Vichy leader in memoirs

France's wartime leader Philippe Petain did not dishonour himself by signing the 1940 armistice that allowed Nazi forces to occupy the north of the country, former far-right leader Jean-Marie Le Pen says in his memoirs.Petain "was legal and legitimate", the

HELLO, PLEASE TAKE A MOMENT TO RATE THIS POST Russia nominates Gerhard Schroeder for Rosneft board

Sending comment Close