Former German chancellor resigns from Russian energy giant

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Former German chancellor resigns from Russian energy giant
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Former German chancellor Gerhard Schröder was stripped of his office and staff by German lawmakers, as he faces increasing pressure from his own party, as well as from the E.U., to resign from his board position with Russian state energy giant Rosneft.

that the parliament’s budget committee was putting in place a new regulation linking the benefits to which former chancellors are entitled to whether they have any official duties.put forth by the four largest parties in the European Parliament, the legislative body of the E.U., “strongly” demanded that Schröder resign from Rosneft.

Markus Ferber, one of the drafters of the resolution and a center-right member of the European Parliament, toldthat holding a senior position at a major state-controlled company means Schröder is “de facto closely cooperating with Russia.” His proposal is also intended to dissuade Schröder from taking a board position at Gazprom, another key Russian energy company, he added. Ferber has also

adding Schröder to the E.U. sanctions list and freezing the former German leader’s assets. Schröder could not be immediately reached for comment.The former chancellor has become the personification of Germany’s deep energy ties with Russia — a relationship Berlin is now trying to scale back. Schröder was instrumental in facilitating

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