BUSINESS >Russia nominates German ex-chancellor Schroeder to Rosneft board

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BUSINESS >Russia nominates German ex-chancellor Schroeder to Rosneft board

AFP photo

AFP photo

Russia has nominated former German chancellor Gerhard Schroeder to the board of its biggest oil producer Rosneft as an independent director, according to a government decree published late on Aug. 11.

Chancellor from 1998 to 2005, Schroeder is currently the chairman of the shareholders’ committee of Nord Stream AG, a Gazprom-led consortium established for construction of pipeline carrying Russian natural gas across the Baltic.

Rosneft, in which Russia has a 50 percent plus one share, is under Western sanctions over Moscow’s role in the Ukraine crisis.

Schroeder, who calls Russian President Vladimir Putin his friend, has criticized moves to impose sanctions on Russia.

His candidacy was put forward as Rosneft plans to increase the number of board directors to 11 from nine, the government said on its website.

August/13/2017

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