Berlin Says U.S. Will Exclude German Branches Of Rosneft From Sanctions

2025-10-28 03:09:24

(MENAFN- UkrinForm) Germany's Minister for Economic Affairs, Katherina Reiche, stated this in a comment to Reuters, Ukrinform reports.

Reiche said that a "Letter of Comfort" was received from the United States last night, confirming that Rosneft's business operations in Germany are completely separated from the Russian parent company.

Germany had sought clarification from Washington after U.S. President Donald Trump's administration imposed sanctions on Russian oil companies Rosneft and Lukoil.

Read also: Trump threatens to keep“massive tariffs” on India if it continues buying Russian oil

Berlin states that the refineries under state control since 2022 are "decoupled" from the parent group and remain crucial for ensuring the country's fuel supply.

Among these assets is the PCK refinery in Schwedt, one of Germany's largest, accounting for over 12% of the nation's oil refining capacity. Rosneft holds a 54.17% stake in this refinery.

As Ukrinform previously reported, Washington had given Berlin a six-month deadline to resolve the issue of Rosneft's Russian-owned assets.

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