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Former German chancellor Gehard Schroeder will leave the board of directors of Russian oil giant Rosneft, the company said on Friday, following public pressure.
Rosneft said that Schroeder and Nord Stream 2 CEO Matthias Warnig informed the company that it was “impossible to extend their powers on the board of directors”.
Rosneft praised their “strategic vision” and “significant contribution to the international business of the company”.
“Their role in the implementation of large-scale infrastructure projects in Russia and Germany, aimed at increasing the efficiency of the Germany economy and its industry and the well-being of its citizens, is invaluable,” Rosneft added.
Berlin on Thursday stripped Schroeder — Germany’s chancellor from 1998 to 2005 — of official perks over ties with Russia.
The decision follows a lengthy effort to get him to turn his back on President Vladimir Putin, which intensified after Russia sent troops into Ukraine.
EU lawmakers separately called in a non-binding resolution on the bloc to slap sanctions on Schroeder and other Europeans who refuse to give up lucrative board seats at Russian companies.
Schroeder, 78, is due to join the supervisory board of gas giant Gazprom in June.
bur/lth