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GERHARD SCRHÖDER

German ex-Chancellor Schröder leaves Rosneft board

Former German chancellor Gerhard Schröder will leave the board of directors of Russian oil giant Rosneft, the company said on Friday, following public pressure.

Former German Chancellor Gerhard Schröder (SPD) talks at an event in Berlin in 2021.
Former German Chancellor Gerhard Schröder (SPD) talks at an event in Berlin in 2021. Photo: picture alliance/dpa | Christoph Soeder

Rosneft said that Schröder and Nord Stream 2 CEO Matthias Warnig informed the company that it was “impossible to extend their powers on the board of directors” a day after Germany stripped Schröder of official perks over ties with Russia.

Rosneft praised their “strategic vision” and “significant contribution to the international business of the company”.

“Their role in the implementation of large-scale infrastructure projects in Russia and Germany, aimed at increasing the efficiency of the Germany economy and its industry and the well-being of its citizens, is invaluable,” Rosneft added.

READ ALSO: Germany strips Schröder of official perks over links to Russia

Schröder, who was Germany’s leader from 1998 to 2005, had been slammed for refusing to quit his posts with Russian energy giants Rosneft and Gazprom following Russia’s war in Ukraine.

The German Bundestag’s decision to strip Schröder of an office and paid staff on Thursday came after a long effort to get him to turn his back on President Vladimir Putin. 

“The coalition parliamentary groups have drawn consequences from the behaviour of former chancellor and lobbyist Gerhard Schröder in view of the Russian invasion of Ukraine,” the parliament decided.

“The office of the former chancellor shall be suspended,” it said, noting that Schröder “no longer upholds the continuing obligations of his office”.

The cost of Schröder’s office and employees was estimated to cost taxpayers around €400,000 per year. 

EU lawmakers separately called in a non-binding resolution on the bloc to slap sanctions on Schröder and other Europeans who refuse to give up lucrative board seats at Russian companies.

Schröder, 78, is due to join the supervisory board of gas giant Gazprom in June.

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POLITICS

Scholz says Germany to become biggest NATO force in Europe

Germany's investments in defence in the wake of Russia's invasion of Ukraine will transform it into the biggest contributor to NATO in Europe, Chancellor Olaf Scholz said on Tuesday.

Scholz says Germany to become biggest NATO force in Europe

Alongside the United States, Germany is “certainly making the largest contribution” to NATO, Scholz said in an interview with the ARD broadcaster.

Speaking at the close of a summit of leaders from the Group of Seven rich democracies, Scholz said Germany was in the process of creating “the largest conventional army within the NATO framework in Europe”.

Days after Russia invaded Ukraine in February, Scholz announced a 100-billion-euro ($105-billion) fund to beef up Germany’s military defences and offset decades of chronic underfunding.

READ ALSO: Germany’s Bundestag approves €100 billion fund to beef up defences

He also promised to meet NATO’s target of spending two percent of GDP on defence, answering years of criticism from close allies that Berlin was failing to contribute enough to the alliance.

Russia’s invasion had led to a renewed conviction “that we should spend more money on defence”, Scholz said.

“We will spend an average of around 70 to 80 billion euros a year on defence over the next few years,” he said, meaning “Germany is the country that invests the most in this”.

Scholz’s announcement in February was seen as a major policy shift, upending Germany’s traditionally cautious approach to defence as a result of its post-war guilt.

Germany had steadily reduced the size of its army since the end of the Cold War from around 500,000 at the time of reunification in 1990 to just 200,000.

NATO allies are from Tuesday gathering in Madrid for a summit, where the United States is expected to announce new long-term military deployments across Europe.

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