{"id":537168,"date":"2025-10-30T08:09:21","date_gmt":"2025-10-30T08:09:21","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/537168\/"},"modified":"2025-10-30T08:09:21","modified_gmt":"2025-10-30T08:09:21","slug":"germany-reviews-rosneft-nationalisation-after-us-sanctions","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/537168\/","title":{"rendered":"Germany reviews Rosneft nationalisation after US sanctions"},"content":{"rendered":"

\"Rosneft\"<\/a>Rosneft<\/p>\n

Germany has revived talks about taking control of Rosneft\u2019s local operations after U.S. sanctions on the Russian oil<\/a> firm, including a refinery that supplies most of Berlin\u2019s fuel, according to two people familiar with the matter<\/p>\n

The situation highlights the complex web linking Germany<\/a> with Russia, which supplied Europe\u2019s industrial powerhouse with energy in the decades leading up to the war in Ukraine.<\/p>\n

The U.S. Treasury said on Wednesday it had issued a licence exempting Rosneft\u2019s German arm from the U.S. sanctions until April 2026.<\/p>\n

Securing a permanent exemption remains Berlin\u2019s preferred option, but German officials are also examining potentially seizing the operations and selling them to a foreign investor, the two people said.<\/p>\n

A spokesperson for the economy ministry said it had received a letter from the United States that would serve as a \u201ctemporary solution\u201d.<\/p>\n

Rosneft\u2019s German arm owns a controlling stake in the Schwedt oil refinery which supplies most of Berlin\u2019s fuel, including to its airport, petrol to pumps across eastern Germany and key ingredients to the local chemicals industry.<\/p>\n

It also has stakes in the MiRo and Bayernoil refineries.<\/p>\n

These assets were placed in a trusteeship giving the German government control in 2022 following Moscow\u2019s invasion of Ukraine, which rocked Germany\u2019s decades-long energy ties with Russia.<\/p>\n

The trusteeship arrangement is renewed every six months but could be overturned in court because, with each renewal, the legal basis for what was supposed to be a temporary, emergency measure is examined.<\/p>\n

So far, Berlin has shied away from seizing Rosneft\u2019s local assets due to concerns about having to pay compensation to Moscow.<\/p>\n

Multi-Billion-Dollar Business<\/strong><\/p>\n

Russian media have put the value of Rosneft\u2019s German assets at around $7 billion, though one of the two sources said the true value may be less than half of that. Moscow has warned Europe against any seizure of its property. German companies with factories and other investments in Russia could bear the brunt of any response from the Kremlin.<\/p>\n

Rosneft has been trying to sell the business since March 2024, to no avail. It did not respond to a request for comment on Wednesday.<\/p>\n

Michael Kellner, a Green Party lawmaker in Germany\u2019s parliament who worked in the last coalition government, overseeing Rosneft, urged the government to nationalise the business.<\/p>\n

\u201cIt is systemically important for Germany,\u201d Kellner said. \u201cThe government needs to nationalise Rosneft\u2019s business in Germany in order to have certainty over its future.\u201d<\/p>\n

Kellner said he had wanted to nationalise the business while in government and that Qatar and Kazakhstan had signaled interest in buying it in 2024.<\/p>\n

It is unclear, however, whether those countries were still interested.<\/p>\n

Germany used to buy oil directly from Russia. Rosneft in Germany now buys oil from Kazakhstan. However, Russia controls the pipeline used to deliver it.<\/p>\n

(With inputs from Reuters)<\/strong><\/p>\n

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