U.S. to exempt Rosneft’s German subsidiary from sanctions indefinitely
One of Rosneft refineries in Germany (Photo: PCK Raffinerie)
In a lobbying victory for Berlin, the United States will
exempt the German
subsidiary of Russia’s Rosneft from sanctions indefinitely, Bloomberg reported
on March 4.
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) plans to announce the decision on March 6, the report said.
Germany took control of Rosneft’s German assets after Russia’s invasion of Ukraine in 2022. Those assets have been “in limbo” since Washington imposed sanctions on the Russian parent company in late 2025.
“The German economy ministry said it’s in close and constructive contact with the relevant U.S. authorities regarding an extension of the U.S. sanctions exemption,” Bloomberg wrote.
The arrangement reduces the risk that sanctions could disrupt operations at German refineries at a time when escalation of the war in the Middle East is already roiling global energy markets.
Rosneft Deutschland owns stakes in three German refineries that account for about 12% of the country’s refining capacity, including Raffinerie GmbH in Schwedt, near Berlin.
“The United States initially granted Germany a six-month deadline to sort out the ownership limbo affecting the Rosneft assets, which was set to run out April 29, 2026,” the report noted.
“Berlin has faced difficulty finding a buyer willing to take
on the assets and also tried to avoid nationalizing them for fear the Kremlin
could retaliate against German firms operating in Russia.”
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