US to Exempt Rosneft’s German Unit From Sanctions Indefinitely
Rosneft Deutschland holds shares in three German refineries including PCK Raffinerie GmbH’s Schwedt plant near Berlin.
Photographer: Krisztian Bocsi/BloombergThe US will exempt the German unit of Rosneft PJSC from sanctions against the Russian oil major indefinitely, according to a person familiar with the matter, marking a win for Berlin after intense diplomatic negotiations.
The Treasury’s Office of Foreign Assets Control plans to announce the decision on Friday though the timing could still shift, the person said, asking not to be named as the discussions are confidential. The German Rosneft assets — which Berlin seized following Russia’s invasion of Ukraine in 2022 and has kept under trusteeship — have been in limbo ever since sanctions were imposed against the parent company late last year.