The US has exempted Rosneft's German business from sanctions.

The US authorities have provided Germany with written guarantees that Rosneft's German business will be exempt from new US sanctions against RUSSIA, it stated.REUTERS German Economy Minister Katherine Reiche.

According to her, the American side sent a letter the day before, in which it acknowledged that Rosneft's activities in Germany "were completely separated" from the Russian parent company.

Last week, the United States imposed new sanctions against Russia for the first time since Donald Trump's second term. Rosneft, LUKOIL, and their subsidiaries were targeted. The U.S. Treasury Department gave Russia one month to wind down its dealings with the sanctioned companies.

Following this, German Chancellor Friedrich Merz announced that Berlin would discuss with Washington the exemption of Rosneft's German business from sanctions. This is due to the fact that in the fall of 2022, Rosneft's German subsidiaries—Rosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RNRM)—were transferred to the trust management of the German Federal Network Agency (BNetzA). These concerns the Russian company's stakes in three German refineries: PCK Raffinerie (Schwedt, 54.17%), MiRO (Karlsruhe, 24%), and Bayernoil (Vogburg, 28.57%).

Rosneft called Berlin's actions expropriation and filed a lawsuit . In the spring of 2023, a COURT in Leipzig dismissed the claim, finding the German authorities' decision justified due to the risk that Rosneft's subsidiaries would fail to fulfill their energy supply obligations. The Russian company emphasized that it had complied with all German regulators' requirements , and Rosneft Deutschland continued to fulfill its petroleum product delivery obligations in full, despite the challenging market situation.

Last spring, the German Ministry of Economics announced the start of the sale of Rosneft's German assets.

ReadPIONERPRODUKT .by inTELEGRAM .