Germany may nationalize Rosneft assets due to US sanctions
30.10.2025 - 14:22
Due to US sanctions, the German government has returned to the issue of nationalizing the German unit of Rosneft.
The company owns the Schwedt oil refinery, which provides most of Berlin’s fuel supplies, writes enkorr with reference to Reuters.
US sanctions against Russian oil company Rosneft have renewed discussions in Berlin about the possible nationalization of its German assets, including a controlling stake in the Schwedt oil refinery, which is critical for the German capital’s energy supply. This was reported by Reuters by two sources familiar with the negotiations.
The situation has once again demonstrated how deep the energy ties between Germany and Russia, which were formed long before the full-scale invasion of Ukraine, remain.
The US Treasury Department announced on October 29 that it had issued a temporary license that exempts Rosneft’s German unit from sanctions until April 2026. However, Berlin does not rule out the possibility of a full buyout or confiscation of the assets with subsequent sale to a foreign investor if a political decision on nationalization is made.
A spokesman for the German Ministry of Economics confirmed receipt of the letter from the United States, calling the document a “temporary solution.”
Rosneft’s German unit owns a controlling stake in the Schwedt refinery, which supplies fuel to Berlin Airport, gas stations in eastern Germany, and the region’s chemical industry. The company also has stakes in the MiRo and Bayernoil plants.
These assets have been under state management since 2022, after the start of Russia’s full-scale war against Ukraine. The regime is extended every six months and has the status of an extraordinary temporary measure, which is subject to legal review each time.
Berlin has so far refrained from confiscating the assets due to the risk of compensation payments from Russia. At the same time, Rosneft itself has been trying to sell its business in Germany since March 2024, but without success.
USM previously reported that Berlin had secured an exemption for a Rosneft subsidiary from US sanctions.
