Project of Summa’s Rotterdam oil terminal may be frozen

The Summa Group may become one of the first Russian companies, whose investment project may suffer because of the conflict between Russia and the West. Dutch Deputies recommend to the Rotterdam authorities to ban the Russian company from constructing an oil terminal at the port. Analysts, interviewed by the Kommersant admit the possibility of the project being frozen, but don’t rule out that it may be beneficial for Summa itself, which could get out of the oil assets in Russia soon.

According to the Dutch mass media, the local deputies Reinier de Jong (of the party "Rotterdam Fit for Life") and Arno Bonte (of the party "Green Left") want to ban the construction of an oil terminal of the Russian group Summa of Ziyavudin Magomedov at the port of Rotterdam. According to a source of the Kommersant, familiar with the situation, the deputies are going to bring the issue to a meeting of the municipal council of Rotterdam in September. If the council supports this initiative, it should apply with corresponding requirement to the mayor and the city authority, adds the Kommersant’s source. The Summa Group reported to the Kommersant that iy is still "interested in the project and intends to implement it".