U.S. sanctions against the Russian energy giant “Rosneft” have led the German government to begin discussing the possibility of nationalizing the company’s local subsidiary, Reuters reported, citing sources.
Source: Espreso
On October 29, the U.S. Department of the Treasury issued a temporary license exempting Rosneft’s German subsidiary from sanctions until April 2026. However, Berlin acknowledges that this is only a temporary solution. According to the agency’s interlocutors, the government is examining options for both a permanent exemption from sanctions and a forced confiscation of the company, followed by the sale of its assets to a foreign investor.
Rosneft’s German division controls the key oil refinery in Schwedt, which supplies most of Berlin’s fuel, and also holds stakes in MiRo and Bayernoil enterprises. After Russia’s invasion of Ukraine, these assets were placed under trusteeship, effectively granting control to the German government.
Despite this, Berlin had previously refrained from nationalization, fearing lawsuits and the need to pay compensation to Moscow. Meanwhile, since March 2024, Rosneft has unsuccessfully attempted to sell its business in Germany.
Green Party lawmaker Michael Kellner urged the government to take decisive action: “This is systemically important for Germany. The state must nationalize this business to ensure energy security.”
The situation around Rosneft is unfolding amid the strengthening of anti-Russian sanctions by the administration of U.S. President Donald Trump, who has repeatedly emphasized that Europe must reduce its dependence on Russian energy resources and strengthen its own energy independence.
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