German Economy Minister Katharina Reiche told Reuters on Tuesday that the US government had provided written guarantees that the German business of Russia's Rosneft would be exempt from new energy sanctions, as the assets are no longer under Russian control, UNN reports.
Details
Reiche said the United States issued a "Letter of Support" last night, acknowledging that Rosneft's operations in Germany had been fully separated from the Russian parent company.
Germany sought clarification from Washington after the administration of President Donald Trump imposed sanctions prohibiting Western banks and customers from doing business with Russian publicly traded firms.
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Berlin argued that the refineries, which have been under German state trusteeship since 2022, are "separated" from the parent group, although they are crucial for the country's fuel supply.
Among the assets is the PCK refinery in Schwedt, one of Germany's largest, accounting for over 12% of the country's fuel refining capacity.
PCK Schwedt, in which Rosneft holds a 54.17% stake, is also a major employer in Brandenburg, a region where support for the far-right Alternative for Germany (AfD) party is growing.
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