Arab Today, arab today russia nominates gerhard schroeder for rosneft board
Last Updated : GMT 09:44:41
Arab Today, arab today
Arab Today, arab today

Russia nominates Gerhard Schroeder for Rosneft board

Arab Today, arab today

Arab Today, arab today Russia nominates Gerhard Schroeder for Rosneft board

Former German Chancellor Gerhard Schroeder
Moscow - Arabs Today

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.

Source: AFP

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