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Former Chancellor Schröder quits Russia board job
Putin ties

Former Chancellor Schröder quits Russia board job

20.05.2022
It remains unclear whether Schröder will also give up his job as chairman of the shareholder committee of Nord Stream AG
Vladimir Putin and Gerhard Schröder meeting in Weimar in 2002
Vladimir Putin and Gerhard Schröder meeting in Weimar in 2002
Photo credit: LW-Archiv

Former German Chancellor Gerhard Schröder is quitting his post as chairman of Russian state-owned oil company Rosneft PJSC after widespread calls for him to cut ties to Russian President Vladimir Putin over the invasion of Ukraine.

Schröder, a Social Democrat like current Chancellor Olaf Scholz, led the ruling coalition with the Greens from 1998 to 2005. He has become an embarrassment for his Social Democratic Party after refusing to distance himself from Putin and give up lucrative jobs with Russian state-owned energy companies.

Rosneft said in a statement Friday that the 78-year-old Schröder had informed the company he was unable to extend his tenure. It remained unclear whether Schröder will also give up his job as chairman of the shareholder committee of Nord Stream AG, which built a Russia-to-Germany gas pipeline that Scholz halted in February.

Scholz as recently as Thursday increased the pressure on Schröder to step down from the two roles. He also welcomed a decision by lawmakers from his ruling coalition to strip his predecessor of his office in the lower house of parliament.

The SPD last month urged Schröder to leave the party and said a process to kick him out was underway. Schröder, who lost to Angela Merkel in the 2005 election, has defended Putin over apparent Russian atrocities in Ukraine, saying he did not think those orders would have come from the Russian leader.

©2022 Bloomberg L.P.


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