Former German chancellor Gerhard Schroeder has been appointed head of the Russian state oil company "Rosneft", Russian agencies reported today.
Schröder's intention to join "Rosneft" was previously criticized by his successor at the head of the German government, Angela Merkel, as well as the leader of Schröder's Social Democratic Party of Germany, Martin Schulz.
Director of "Rosneft" Igor Sechin, a close associate of Russian President Vladimir Putin, told the Interfax agency today that Schroeder's arrival "will enable the expansion of the company's business in Europe."
Schroeder, German chancellor from 1998 to 2005, said that as chairman of the Board of Directors of "Rosneft" he would mediate in finding a compromise when the opinions of the Board members differ, according to Interfax.
He previously said that he wants to increase the energy security of Germany and Europe.
Schroeder is also the chairman of the Board of Shareholders of the company Northern Stream, which transports gas from Russia to Germany and whose majority owner is the Russian state company "Gasprom".
The Russian government is the majority owner of "Rosneft", which is also owned by the British company "BP", the Swiss raw materials trading company "Glencor" and the Qatari state company "Qatar Investment Authority" (QIA). "Glencor" and "QIA" are in the process of selling most of their shares to the Chinese company "CEFC".
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