Russia nominates Ex-Chancellor of Germany to Rosneft Board of Directors

The Russian Federation has nominated former German Chancellor Gerhard Schröder to join the Board of Directors of the Russian energy giant, Rosneft, reported DW.

"The government of the Russian Federation nominated Gerhard Schröder as the new independent director of Rosneft. He currently heads the Shareholders Committee of Nord Stream AG," the statement said.

According to the publication, Gerhard Schröder was named one among seven candidates for the position. Shareholder voting for candidates will take place at the end of September; the number of seats on the company's Board of Directors will be increased from 9 to 11.

Schröder was appointed non-executive director of Rosneft, a company that was born from the wreckage of Mikhail Khodorkovsky’s Yukos. Rosneft is the largest Russian oil producer, and is 50% state-owned.

Gerhard Schröder was German Chancellor from 1998 to 2005. He has previously criticized the European sanctions against Rosneft, which were imposed due to the actions of Russia in Ukraine.
It is known that Schröder is a close friend of Russian President Vladimir Putin.

The former Chancellor of the Federal Republic of Germany heads the Shareholders’ Committee for Nord Stream AG, which is engaged in the Nord Stream gas pipeline, through which Russian gas flows to Germany along the bottom of the Baltic Sea.

  Rosneft, Gerhard Schröder, Russia, Germany