US EditionUS 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 US 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 them under federal energy regulator trusteeship, but trusteeship extensions and talks with the Qatar Investment Authority have 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.
- Without an exemption, Rosneft Deutschland could lose access to key customers after March 2026, raising timing risks for Berlin despite the reprieve averting immediate disruption.
- The US waiver would be shorter than the two-year UK license, as the German government asserts the subsidiaries are decoupled and the British exemption followed US sanctions last week.
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48 Articles
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.
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.
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.
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