Washington recognises German subsidiary as independent of Russia
USA removed Rosneft Germany from the sanctions list, said the Minister of Economy of Germany Katerina Reiche in an interview with Reuters.
According to her, the US government sent “letter of guarantee”, confirming that Rosneft's German assets are no longer controlled by Moscow, and are therefore exempt from the new energy restrictions.
“The United States has provided written guarantees that Rosneft's German business will be excluded from sanctions. We are talking about a company that is managed by Berlin and acts in the interests of the country's energy stability,« Reiche said.
Rosneft Deutschland to be controlled by Berlin from 2022
After the start of Russia's full-scale invasion of Ukraine German government takes control of Rosneft subsidiary“ - Rosneft Deutschland GmbH, to ensure the country's energy security.
The company provides around 12% of oil refining in Germany and owns stakes in three major refineries in Schwedt, Karlsruhe and Fercht.
Exception does not mean policy easing
According to Reiche, the US decision does not mean easing sanctions against russia. On the contrary, it is aimed at protection of European energy companies, The company continues to operate independently of the Kremlin.
“This is a technical solution that confirms that the company is fully controlled by Germany, not Moscow,” the minister said.
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