The US has just officially confirmed that Rosneft Germany will not be subject to new sanctions, after Germany proved that this asset was completely out of control of Russia. The move is seen as a "lifeline" for the German energy industry amid strained relations with Russia.
On October 28, German Economy Minister Katherina Reiche said that the US government had sent a document ensuring that Rosneft Germany - an energy enterprise previously owned by Russian Oil and Gas Group Rosneft - was exempted from new US sanctions, as these assets were no longer under Russian control.
According to Ms. Reiche, Letter of Comfort was released by the US in the early morning of the same day, confirming that Rosneft Germany has completely separated from its parent company in Russia. This move helps Western partners and banks feel secure in continuing to trade with Rosneft's branches in Germany without worrying about violating the new ban of the Trump administration.
The letter officially took effect from 3am on October 28, Reiche told the British news agency, adding that there was no specific time limit for the exemption, but technical negotiations were still underway to ensure long-term validity.
The German economic ministry spokesman also confirmed that Berlin and Washington are still negotiating to maintain a permanent exemption for Rosneft's assets in Germany - which are considered an important link in national energy security.
Previously, Bloomberg reported that the Trump administration gave Germany 6 months to resolve the ownership of Rosneft Germany.
Rosneft Germany currently holds a stake in three refineries that account for about 12% of the country's refining capacity, including: 54.17% of shares at PCK Schwedt near the capital Berlin, 24% at MiRo and 28.57% at Bayernoil - three key hubs that ensure fuel supply for the North and South of Germany.
After Russia launched a military campaign in Ukraine in 2022, the German government temporarily seized Rosneft Germany's assets and put them under state management to cut off Russia's influence.
Russia's Rosneft Group called Germany's transfer of its subsidiaries to state management a "violating of market economy principles and property rights".
Observers say that Washington's decision to "strip" not only helps Germany avoid the risk of energy disruption but also reflects the US's strategic flexibility when considering the goal of sanctioning Russia and the stable needs of its European ally.
