USA grants Germany reprieve from sanctions against Rosneft subsidiary – media
The US administration is considering granting a limited general license to Rosneft Deutschland, a subsidiary of PJSC Rosneft, Bloomberg reported, citing its own sources.
"Washington has floated a six-month deadline for Berlin to sort out the ownership limbo affecting the German assets of Russian oil major Rosneft PJSC, allowing them to be temporarily exempted from US sanctions, according to people familiar with the matter," Bloomberg reported.
"The Trump administration has conveyed to German counterparts that it’s considering granting a non-renewable, limited general license for Rosneft Deutschland, the people said, asking not to be named as the issue is sensitive," the agency reported.
According to the agency’s source, "German economy minister Katherina Reiche aims to discuss the topic at the G7 Energy and Environment Ministers’ meeting in Toronto this week."
"While the arrangement would ease the risk of sanctions disrupting German refining activities in the near term, it adds pressure on Berlin to come up with a workable ownership structure that excludes Russia once its trusteeship expires next March," Bloomberg notes.
The German government seized Rosneft’s assets after Russia’s full-scale invasion of Ukraine in 2022 and has since extended the trusteeship several times. Although the company reached an agreement with Moscow to sell the German units, negotiations with Qatar failed as the parties could not agree on a price.