Germany is working on an exemption from US sanctions against the German subsidiary of Russia’s Rosneft, a source with knowledge of government discussions told Reuters.
After Britain placed Rosneft and Lukoil on the sanctions list last week, German authorities have already obtained a special licence in London allowing the companies to work with Rosneft’s two German subsidiaries, the source told Reuters.
Similar negotiations are underway over U.S. sanctions, he said. A German Economy Ministry spokesman told the agency that US sanctions should not apply to Rosneft’s German business because it is separate from its Russian parent company and under German control.
“Rosneft is a key supplier of fuel to petrol stations and some airports in Europe’s largest economy.”
The Rosneft unit, which includes stakes in the Schwedt, MiRo and Bayernoil refineries, was placed under German control in 2022 following Russia’s full-scale invasion of Ukraine. However, while Berlin has refrained from nationalisation, legal ownership remains in Russia.
“Rosneft and the U.S. Treasury Department have not yet responded to a request for comment.
22 In October, the US Treasury Department imposed sanctions against Lukoil, Rosneft, their 34 subsidiaries, including those involved in geological exploration, oil and gas production, field management and logistics, as well as major refineries.
Against this background, China’s largest state-owned oil companies have stopped offshore purchases of Russian crude from India.