Finance
US excludes rosneft Germany from Russia sanctions indefinitely, Bloomberg news reports
Published by Global Banking & Finance Review®
Posted on March 4, 2026
2 min readLast updated: March 4, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 4, 2026
2 min readLast updated: March 4, 2026
The U.S. will indefinitely exempt Rosneft Germany’s operations—Rosneft Deutschland and RN Refining & Marketing—from sanctions, ensuring continued refining at PCK Schwedt and other sites amid energy market volatility. German trusteeship remains in place.
March 4 (Reuters) - The U.S. government will exempt the German unit of Russia's Rosneft from sanctions against the oil major indefinitely, Bloomberg News reported on Wednesday, citing a person familiar with the matter.
"We are in close and very constructive dialogue with the relevant U.S. authorities with a view to extending the relevant U.S. exemption as early as possible," Germany's economy ministry told Reuters.
Germany placed the local units of Russia's Rosneft under trusteeship in 2022 after Moscow's invasion of Ukraine upended Berlin's decades-long energy ties with Russia.
The assets include a stake in the PCK Schwedt refinery, a key supplier of fuel to the capital region.
The U.S. Treasury's Office of Foreign Assets Control is expected to announce a decision on Friday, though the timing could still change, Bloomberg News said.
An extension of the existing U.S. sanctions waiver would reduce the risk of disruptions to German refining operations at a time when the escalating conflict in the Middle East is unsettling global energy markets.
In October, Reuters reported that Washington had given written assurances that German operations formerly owned by Rosneft would be exempt from new U.S. energy sanctions.
(Reporting by Anna Peverieri in Barcelona; Additional reporting by Christoph Steitz in Frankfurt. Editing by Jan Harvey and Mark Potter)
The US exempted Rosneft Germany to reduce the risk of disruptions to German refining operations amid volatile global energy markets.
Rosneft Germany holds assets including a stake in the PCK Schwedt refinery, a key fuel supplier to Berlin and the surrounding capital region.
According to Bloomberg News, the US exemption for Rosneft Germany is indefinite, with further details expected from the US Treasury.
Germany placed the local units of Rosneft under trusteeship in 2022 after Russia’s invasion of Ukraine.
Yes, Washington had given written assurances in October that German operations formerly owned by Rosneft would be exempt from new US energy sanctions.
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