U.S. sanctions targeting Rosneft will not affect the Russian oil giant's German subsidiaries, which were placed under state administration after Moscow invaded Ukraine, the German government told AFP on Tuesday.
The economy ministry “has received assurances from the relevant U.S. authorities that the sanctions are not intended to target Rosneft's German subsidiaries,” a spokesman said.
“Business transactions with the subsidiaries can continue,” he added.
The U.S. administration has provided a document offering assurances, and Berlin soon expects to receive “further clarifications that provide legal certainty,” he said.
Rosneft’s German operations “are decoupled from their Russian parent company,” the spokesman stressed.
“Their business operations cannot therefore be controlled from Russia and do not generate income for the Russian parent company or the Russian state.”
Last week, U.S. President Donald Trump announced the sanctions against Rosneft and another Russian oil major, Lukoil, complaining that talks with President Vladimir Putin to end the Ukraine war were not progressing.
The German government seized Rosneft's German assets and placed them under the trusteeship of the federal energy regulator in September 2022, in response to Russia's full-scale invasion of Ukraine.
The measure was initially intended as temporary while negotiations were underway with Moscow to sell the assets, but those efforts have so far failed.
Rosneft still holds shares in three German refineries, including the major PCK site near Berlin.
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