Merz expects relaxation of sanctions for Rosneft’s subsidiaries
Photo: Friedrich Merz (Getty Images)
German Chancellor Friedrich Merz expects Rosneft to be exempted from the new US sanctions. This concerns the German operations of the Russian company, which are under the management of the German state, DW informs.
"We will discuss this (the exemption from US sanctions – ed.) with the Americans," Merz said.
It was also reported that the German government seeks to protect Rosneft’s German subsidiaries from the new US sanctions. According to the reports, several banks have already indicated that the US sanctions could prevent them from doing business with the Russian oil company’s subsidiaries in Germany.
The German Ministry for Economic Affairs and Energy stated that the US sanctions should not affect Rosneft’s German operations, as they are under state management.
Which companies are involved
The two German firms in question are Rosneft Deutschland and RN Refining & Marketing. After Russia’s full-scale invasion of Ukraine in 2022, the German authorities stripped Rosneft of control over them and placed them under external trust management by the Federal Network Agency.
Ownership rights remain with Rosneft. In September 2025, the trust management of Rosneft Deutschland was extended for another year.
Rosneft Deutschland accounts for about 12% of Germany’s oil refining capacity. The company holds stakes in three major German refineries: PCK Schwedt in Schwedt, MiRo in Karlsruhe, and Bayernoil in Vohburg an der Donau.
On the evening of October 22, the US imposed strict sanctions on the Russian oil companies Rosneft and Lukoil. According to the US Treasury Department, the decision was prompted by Russian President Vladimir Putin’s refusal to agree to peace in Ukraine.
The sanctions prohibit transactions with the sanctioned companies and all their subsidiaries. The companies’ assets in the US will be frozen.
It was also reported that the German branch of the Russian company Rosneft, Rosneft Deutschland, which is under the management of the German government, could lose key clients due to the US sanctions.
