Rosneft says Germany's Schroeder steps down from board

Russia's largest oil company, Rosneft, reported on Friday that former German Chancellor Gerhard Schroder resigned from its board of directors.

A written statement from the company said that Schroeder informed Rosneft that he could no longer fulfill his duties as a board member.

The statement, which mentioned that the decision was met with understanding, noted that Schroder made important contributions to the company and was thanked for his services.

Rosneft, of which the Russian government owns a 51% share, is the largest oil company in Russia and one of the world's leading oil firm in terms of production volume and number of reserves.

Schroder, who had described Russian President Vladimir Putin as his "friend," has been the target of criticism in Western countries due to this relationship.