US excludes Rosneft Germany from Russia sanctions indefinitely, Bloomberg News reports

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. Germany’s economy ministry did not immediately respond to a Reuters’ request for comment. 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. 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.