US proposes that Germany delay sanctions on Rosneft's German subsidiary – Bloomberg

The United States has given Germany a six-month deadline to resolve the issue of ownership of the German assets of the Russian oil company Rosneft, allowing them to be temporarily exempted from US sanctions.

Source: Bloomberg citing sources, as reported by European Pravda

Details: Trump's administration informed the German side that it is considering granting a time-limited general licence for Rosneft Deutschland which would temporarily exclude it from US sanctions.

Bloomberg sources added that Germany is evaluating the proposal and is expected to respond in the coming days. German Economy Minister Katherina Reiche wants to discuss the matter at the Group of Seven energy and environment ministers' meeting this week.

Background:

• The German government seized Rosneft's assets following Russia's full-scale invasion of Ukraine in 2022 and has repeatedly extended the period of trust management since then.
• Germany had an agreement with Russia to sell Rosneft Deutschland. Qatar was considered as a potential buyer, but talks ultimately failed as the parties could not agree on a price.
• Rosneft Deutschland owns shares in three German oil refineries, which account for 12% of Germany's total refining capacity, meaning the sanctions could have a significant impact on the country.
• The German side aims to secure Rosneft's assets on its territory by 21 November, when the US sanctions are due to take effect.

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