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Finance

Germany extends trusteeship of Rosneft assets to March

Published by Global Banking and Finance Review

Posted on September 8, 2025

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BERLIN (Reuters) -The German government has extended its trusteeship over the German assets of Russian oil producer Rosneft until March 10 next year, the economy ministry in Berlin said on Monday.

It marks the sixth time the trusteeship, which has to be renewed every six months, has been extended and comes shortly before a deadline this week.

Rosneft's German assets, including stakes in the Schwedt, MiRo and Bayernoil refineries, were put under government trusteeship in September 2022 in the wake of Russia's full-scale invasion of Ukraine, which sparked an energy crisis due to the collapse of Europe's relations with key supplier Russia.

So far, Berlin has shied away from nationalising Rosneft's activities, opting instead to maintain de facto control over them via a trusteeship that still leaves legal ownership in Russian hands.

Rosneft, Russia's biggest oil producer, has sought to sell its German businesses, including a 54.17% stake in the PCK Schwedt refinery, but talks with potential suitors, including Qatar, have proven unsuccessful so far.

(Writing by Miranda MurrayEditing by Ludwig Burger)