The United States has lifted sanctions on the German subsidiary of the Russian oil company Rosneft, according to an announcement by the U.S. Treasury Department on Thursday. The new authorization replaces a prior one that was set to expire on April 29. By extending the existing U.S. sanctions regime, the goal is to reduce the risk of disruptions at German refineries, a concern heightened by the escalating conflict in the Middle East and its impact on global energy markets.
In 2022, Germany placed the Rosneft subsidiary under trusteeship following Russia’s invasion of Ukraine. Among the assets under trusteeship is a stake in the PCK refinery in Schwedt, which supplies fuel to the capital region and serves as a major industrial hub and employer for thousands of people.
Federal Minister for Economic Affairs Katherina Reiche (CDU) praised the U.S. decision as a strong signal of tight trans‑Atlantic cooperation on sanctions policy. She emphasized that the clarity brought to the PCK refinery and the surrounding region is of outstanding importance, as operational certainty for Rosneft Deutschland supports both supply security and economic stability.
The extension of the General License was made possible by a decree establishing trusteeship over the German Rosneft subsidiaries under a new legal basis in the Foreign Trade Act. The trusteeship is linked to the duration of EU sanctions, thereby offering a long‑term perspective and planning security.
