US exempts Rosneft's subsidiary in Germany from sanctions

German Economy Minister Katherina Reiche said that the United States government has exempted Rosneft's German assets from sanctions because they are not under russian control.

This is reported by RBC-Ukraine with reference to Reuters.

According to Reiche, the United States on Monday, October 27, published a "letter of support" stating that Rosneft's operations in Germany are completely separated from the parent company in russia.

After the administration of US leader Donald Trump imposed sanctions against russian Rosneft and Lukoil, Germany turned to the United States for clarification.

Berlin's statement said that the oil refineries, which have been under German supervision since 2022, are "separated" from the parent group.

At the same time, they are important for fuel supplies to the country.

The report says that these assets include the PCK oil refinery (Rosneft owns 54.17% of the shares) in Schwedt.

It accounts for more than 12% of fuel processing capacity in Germany.

As Ukrainian News Agency earlier reported, on October 22, the United States imposed new sanctions against leading russian oil companies Rosneft and Lukoil.

The restrictions are aimed at increasing economic pressure on the Kremlin due to its war against Ukraine.