US Treasury officially suspends sanctions on German Rosneft subsidiary
Illustrative photo: Rosneft's German subsidiary has been removed from US sanctions (Getty Images)
The US has removed Rosneft Deutschland GmbH and RN Refining & Marketing GmbH, which are German subsidiaries of Rosneft, from sanctions, Reuters reports.
The statement notes that the US issued a general license allowing transactions with Rosneft Deutschland GmbH and RN Refining & Marketing GmbH.
The Treasury emphasized that such transactions are permitted until April 29, 2026.
Why the US suspended sanctions
After the start of Russia's full-scale war against Ukraine, the German government placed Rosneft's assets under external management. These measures were extended several times.
However, US sanctions caused problems because they targeted not only Rosneft itself but also all its subsidiaries, including Rosneft Deutschland GmbH and RN Refining & Marketing GmbH.
Following the restrictions, German Chancellor Friedrich Merz said Berlin wants to negotiate with Washington on the possible lifting of sanctions on these companies.
Bloomberg, citing sources, reported that US officials proposed a six-month suspension of the sanctions. During this period, Germany would need to find a solution to the arising issues.
For context, the US decision to tighten sanctions against Russia was announced on October 23. The move was somewhat unexpected, as Trump had previously limited his actions to threats against Russia over several months.
Ukrainian President Volodymyr Zelenskyy noted that the results of US sanctions against Russia could be seen within a month.
