The US temporarily lifts sanctions on “Rosneft” subsidiaries in Germany

The US Treasury Department has allowed operations with Rosneft subsidiaries in Germany for another six months.

This is stated on the website of the US Treasury Department.

The license allows for transactions prohibited by sanctions with “Rosneft” Deutschland GmbH and RN Refining & Marketing GmbH until 12:01 AM Eastern Time (6:00 PM Kyiv Time) on April 29, 2026.

Bloomberg, citing its own sources, wrote on October 27 that the United States had given Germany a six-month deadline to resolve the issue of ownership of German assets of the Russian oil company “Rosneft”.

Thus, the US granted Germanyʼs request to lift sanctions against German “Rosneft” enterprises, because Germany assured that they were not under the control of the Russian Federation.

The German government seized “Rosneft” assets, including subsidiaries, after a full-scale invasion in 2022.

The US sanctions against “Lukoil” and “Rosneft”

The US President Donald Trump imposed sanctions on “Lukoil”, “Rosneft", and their subsidiaries on October 23. The list includes more than 30 units of both companies, including oil fields, gas fields, and refineries across the country.

In just two days, the shares of both companies fell, with Russiaʼs largest oil corporations losing a combined $5.2 billion. In particular, “Lukoil” shares fell by 7.2%, resulting in a loss of $3.66 billion. “Rosneft” shares fell by 3%, taking $1.56 billion with them.

“Rosneft” and “Lukoil” account for almost half of Russiaʼs daily oil production. For example, “Rosneft” generates approximately 17% of Russiaʼs budget revenues.

Author: Anastasia Zaikova

For more news and in-depth stories from Ukraine, please follow us on X.