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US excludes Rosneft Germany from Russia sanctions
The US aims to prevent disruptions in Germany's refining sector by proposing a six-month sanctions reprieve for Rosneft Deutschland amid unresolved ownership issues.
- On October 27, the United States proposed a six-month reprieve from sanctions for Rosneft Deutschland and is considering a one-off, non-renewable general license, Bloomberg reported.
- The German government seized Rosneft Deutschland's holdings after Russia's invasion and placed the assets under federal energy regulator trusteeship, extending trusteeship while talks with Qatar Investment Authority failed.
- Rosneft Deutschland owns stakes in three German refineries, including the PCK Schwedt plant near Berlin, which handles roughly 12 percent of Germany's refining capacity and shares the Transalpine crude pipeline.
- The proposal would avert immediate disruption to Germany's refining sector but increases pressure on Berlin to find a long-term solution before Nov. 21 as oil traders and banks threaten to cut off Rosneft Deutschland.
- The US waiver would be shorter than the two-year UK license last week, as the German government asserts its subsidiaries are decoupled while Britain granted a British exemption for German subsidiaries.
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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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Germany Says Rosneft Subsidiaries Not Affected by U.S. Sanctions
U.S. sanctions targeting Rosneft will not affect the Russian oil giant's German subsidiaries, which were placed under state administration after Moscow invaded Ukraine, the German government told AFP on Tuesday.
·Amsterdam, Netherlands
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Donald Trump decided last week to impose sanctions on Russia's two largest oil producers, Rosneft and Lukoil.
Coverage Details
Total News Sources47
Leaning Left15Leaning Right7Center6Last UpdatedBias Distribution54% Left
Bias Distribution
- 54% of the sources lean Left
54% Left
L 54%
C 21%
R 25%
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