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U.S. exempts Rosneft’s German unit from new Trump sanctions

global.espreso.tv
Tue, 28 Oct 2025 17:30:00 +0200
U.S. exempts Rosneft’s German unit from new Trump sanctions
Reuters reported the development.According to Germany’s Economy Minister Katherina Reiche, Washington provided Berlin with written assurances that the operations of Rosneft’s German business will not fall under the restrictions, since its assets are no longer controlled by Russia.Reiche told Reuters that the United States issued a “Letter of Comfort” confirming that the company’s operations in Germany are fully separated from the Russian parent structure.Germany had sought clarification from Washington after the Trump administration introduced sanctions prohibiting Western banks and companies from cooperating with Russian firms whose shares are publicly traded. Berlin emphasized that the refineries under state control since 2022 are effectively isolated from Rosneft, though they remain strategically important for the country’s energy supply.These assets include the PCK Schwedt refinery, one of Germany’s largest, accounting for more than 12% of the nation’s fuel processing capacity. The facility, in which Rosneft holds a 54.17% stake, is also a major employer in Brandenburg.On October 24, reports said Berlin had asked Washington to exempt Rosneft’s German unit from U.S. sanctions after banks warned that the restrictions could disrupt cooperation with the local energy supplier.
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