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US excludes Rosneft Germany from Russia sanctions
- Last week, the US proposed a six-month reprieve and considered a one-off license to prevent Rosneft Deutschland from losing key customers after Nov. 21.
- Germany seized the assets after Russia's 2022 invasion and placed them under trusteeship, repeatedly extending state control every six months while talks with the Qatar Investment Authority to sell failed.
- Rosneft Deutschland owns stakes in three German refineries, including the PCK Schwedt plant near Berlin that handles roughly 12 percent of Germany's refining capacity and has a share in the Transalpine crude pipeline, while traders and banks have threatened to cut them off.
- The reprieve would avert immediate disruption to Germany's refining sector but increases pressure to find a long-term solution before trusteeship expires in March 2026, and Germany's economy ministry expects further legal clarifications from US authorities.
- A German government spokesman noted subsidiaries can't be controlled from Russia and do not generate income for the Russian parent, while the UK issued a license last week, and US President Donald Trump targeted Russian oil firms.
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The subsidiaries of the energy company Rosneft, which is under trust management in Germany, are currently exempt from US sanctions against Russia. This was assured by the American authorities, a spokesman for the Federal Minister of Economics Reiche said.
·Germany
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The recent US sanctions against Rosneft are not aimed at German subsidiaries of the Russian oil giant, the German Ministry of Economy announced, which nevertheless wants "additional clarifications" from Washington about the future of fuel deliveries.
·Belgrade, Serbia
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Coverage Details
Total News Sources60
Leaning Left15Leaning Right9Center8Last UpdatedBias Distribution47% Left
Bias Distribution
- 47% of the sources lean Left
47% Left
L 47%
C 25%
R 28%
Factuality
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