Russia nominates German ex-chancellor Schroeder to Rosneft board

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.

By: Reuters | Moscow | Published:August 12, 2017 9:18 pm
Russian President Vladimir Putin meets with Rosneft Chief Executive Igor Sechin at the Kremlin in Moscow, Russia, June 20, 2017. Sputnik/Alexei Nikolsky/Kremlin via REUTERS

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 Friday. 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 criticised 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.

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