The US Treasury has authorized transactions with Rosneft enterprises in Germany until the end of April 2026

The US Treasury Department has authorized transactions with Rosneft subsidiaries in Germany until April 29 next year. This is stated in the license published by the department.

“All transactions involving Rosneft Deutschland GmbH or RN Refining & Marketing GmbH, or any entity in which they hold a share of 50% or more, are permitted until 00:01 Eastern Daylight Time on April 29, 2026,” the document says.

The day before, Bloomberg wrote that Washington plans to issue such a limited general license, which would exempt Rosneft’s subsidiaries in Germany from sanctions. Rosneft Deutschland and RN Refining & Marketing are therefore exempt from any restrictions for six months.

Rosneft Deutschland owns shares in three German refineries, which account for 12% of the country's oil refining capacity. Among them, for example, is the PCK Raffinerie refinery in Schwedt, Germany, where Rosneft Deutschland controls 54% of the shares.

Rosneft Deutschland, together with RN Refining & Marketing, has been in external trust management of the Federal Network Agency since 2022: Berlin essentially deprived Rosneft of control over the companies, but ownership still remained with it.

Rosneft Deutschland and RN Refining & Marketing themselves are not included in the US sanctions lists, but as subsidiaries of Rosneft they risk falling under restrictions. All companies may face sanctions if at least 50% of their assets are owned by Russian Rosneft or Lukoil. After the announcement of US sanctions against Rosneft last week, German Chancellor Friedrich Merz expressed hope that the US would exempt Rosneft's enterprises in the country from restrictions.

Previously, similar concessions for Rosneft enterprises in Germany were also proposed by the UK. The government of the country has authorized all transactions with their participation until October 2027.