WASHINGTON: The United States has lifted sanctions on the German subsidiary of Russian oil giant Rosneft, easing restrictions that had created months of uncertainty around the company’s operations in Germany after its assets were placed under state control by Berlin.
The U.S. Department of the Treasury on Thursday issued a general license authorising transactions involving Rosneft Deutschland GmbH and RN Refining & Marketing GmbH, effectively exempting the companies from sanctions imposed by Washington last year.
The sanctions were part of a broader set of measures announced by Donald Trump targeting major Russian oil companies, including Lukoil and Rosneft, in response to Russia’s invasion of Ukraine. The restrictions came into force on November 21 and represented some of the strongest US actions against Russia’s energy sector during the conflict.
The measures had prompted several major buyers of Russian crude to seek alternative suppliers amid fears of supply disruptions and compliance risks.
Rosneft’s German subsidiary was initially not granted any exemption under the sanctions regime. The company holds stakes in three refineries in Germany that together account for roughly 12 percent of the country’s refining capacity, making its status a matter of strategic importance for the German energy sector.
The German government placed Rosneft’s local assets under state trusteeship following the outbreak of the Russia–Ukraine War, arguing that the operations had been effectively “decoupled” from their Russian parent company.
However, Berlin has so far refrained from fully nationalising the assets and has instead been exploring options to sell the shares to new investors in order to stabilise refinery operations and ensure continued fuel supplies.
The US decision to grant a sanctions exemption is expected to provide greater clarity for companies and financial institutions dealing with Rosneft’s German operations while broader sanctions against Russia’s energy sector remain in place.
By AFP
