US exempts Rosneft’s German assets from new energy sanctions

The United States has provided written assurances that the German assets of Russia’s Rosneft will be exempt from new US energy sanctions, as they are no longer under Russian control, Germany’s Economy Minister Katherina Reiche said.

She told Reuters that Washington issued a “Letter of Comfort” on October 27, confirming that Rosneft’s operations in Germany have been fully separated from the Russian parent company, Caliber.Az reports.

Berlin had sought clarification from the US after President Donald Trump’s administration introduced sanctions restricting Western banks and companies from dealings with designated Russian firms.

The German government argued that the refineries placed under state trusteeship in 2022 were “decoupled” from Moscow’s control and remained vital to national energy security.

Included among the affected assets is the PCK refinery in Schwedt, which handles over 12% of Germany’s total fuel processing capacity.

Rosneft holds a 54.17% stake in PCK, which is also a key employer in Brandenburg, a region where support for the far-right Alternative for Germany (AfD) party has been rising.

By Jeyhun Aghazada