Basf helps Moscow – International

The German chemical giant BASF is still active in Russia and, through its subsidiary, ensures fuel for the Kremlin planes that bomb Ukraine every day, according to an investigation by the weekly. The mirror and public TV Zdf. Wintershall Dea, a company with headquarters in Kassel and Hamburg in which BASF owns 72.7 percent of the capital (the remainder belongs to LetterOne, an investment fund linked to the Russian oligarchs Mikhail Fridman and Pëtr Aven, both affected by Western sanctions), is part of one joint venture which supplies the Russian Gazprom with natural gas condensate, a substance used to produce diesel fuel and in particular aircraft fuel. Wintershall argues that the condensate is used for processing various petrochemicals, but cannot rule out that it also serves military purposes, Der Spiegel points out. “The company does not intend to stop its business in Russia. Its executives, among other things, say they are not in full control of the joint venture and therefore of not being able to decide for themselves. And then withdrawing from Russia would mean losing a great deal of money. In 2021, half of Wintershall’s mining operations came from Russia. Furthermore, in the first nine months of 2022, the company paid taxes to the Russian state of 320 million euros, while gross profits exceeded 1.5 billion euros. Yet, after the invasion of Ukraine, competitors such as Shell, Exxon Mobil and Eni have fled the country. ◆