The German subsidiary of the Russian oil company Rosneft has received a temporary exemption from new sanctions imposed by the United States against the oil sector of Russia. The corresponding decision by the US Department of the Treasury allows operations with “Rosneft Deutschland” and “RN Refining & Marketing” until the end of April 2026.
This is reported by Kyiv24
Which Companies Are Exempt
According to the new provisions, companies that are at least 50% owned by the aforementioned enterprises are also temporarily exempt from sanctions. This allows them to continue operations in international markets despite the overall restrictions on the Russian energy sector.
Control Over Assets and Government Position
The PCK refinery, located in the city of Schwedt in eastern Germany, is 54% owned by German subsidiaries of the Russian state corporation. Following Russia’s full-scale invasion of Ukraine, these companies were placed under the supervision of the German government, which now exercises full control over their activities.
The US Department of the Treasury emphasizes that sanctions against Russian energy giants effectively prohibit any economic ties with Rosneft, Lukoil, and their subsidiaries not only for American companies but also for foreign financial institutions and business partners dealing with sanctioned entities.
The United Kingdom has also imposed sanctions against the Russian oil sector and the state company Rosneft.