The U.S. Treasury announced on Thursday that it will lift sanctions on the German subsidiary of the Russian oil company Rosneft. The new authorization replaces a former one that was set to expire on April 29. By extending the existing U.S. sanctions framework, Washington aims to lower the risk of disruptions to German refining operations, especially at a time when the escalating conflict in the Middle East continues to unsettle global energy markets.
Germany had placed the Rosneft subsidiary under trusteeship in 2022 after Russia’s invasion of Ukraine. Among its assets is a stake in the PCK refinery in Schwedt, a key fuel supplier for the greater Berlin region. German Economy Minister Katherina Reiche (CDU) described the U.S. move as a “strong signal of close transatlantic cooperation in sanctions policy”. She added that the clarification is “of outstanding importance” for the PCK refinery, the surrounding region, and the industrial hub that employs thousands of people. Stability for Rosneft Germany, she said, contributes significantly to supply security and the economic stability of the area.
The renewal of the general license was made possible by instituting a trusteeship over the German Rosneft subsidiaries under a new legal basis in the Foreign Trade Act. The trusteeship’s duration is tied to the length of EU sanctions, providing a long‑term perspective and planning certainty for the company’s operations in Germany.