Roseneft Oil

The federal government has again appointed the Federal Network Agency as trustee for Rosneft Deutschland and RN Refining & Marketing on a new legal basis. The agency will take control of Rosneft’s stakes in the PCK Schwedt, MiRo Karlsruhe and Bayernoil Vohburg refineries. The measure is intended primarily to secure the supply of petroleum products to Berlin and Brandenburg and to protect the Schwedt site. The arrangement is based on an amendment to the Foreign Trade and Payments Act following the EU sanctions package against Russia and continues the trusteeship in place since 2022. » Mere på stern.de

The US Treasury Department has issued a waiver allowing business with Rosneft Deutschland and RN Refining & Marketing until the end of April 2026. Companies that are at least 50% owned by those two entities are also temporarily exempt. Rosneft Deutschland includes the PCK refinery in Schwedt, which is held in trust by the federal government and may continue to be supplied, even though the US sanctions generally prohibit economic interactions with Rosneft and Lukoil. » Mere på finanzen.net

The federal government says U.S. authorities have assured that the new U.S. sanctions do not target the German subsidiaries of Rosneft held in trust; a provisional "Comfort Letter" is in place. The Economy Ministry is working with U.S. authorities on legally secure clarifications. Without the exemption, banks would have halted their business with PCK and the Schwedt refinery might have had to stop operations and file for insolvency. British measures are also not expected to affect the German Rosneft subsidiaries, as they are decoupled from the Russian parent. » Mere på finanzen.net

Rosneft recorded a 68.3% drop in profit to 245 billion rubles in the first half of 2025, while Lukoil and Gazprom‑Neft also report significant losses. The main reasons are falling oil prices and a strong ruble, which have sharply reduced state revenues from oil and gas. Experts say a total embargo on Russian oil would be economically hard to enforce because replacement volumes are lacking and buyers remain in Asia; however, a price collapse to around $35 per barrel would heavily strain the budget. » Mere på welt.de

The Federal Ministry for Economic Affairs has extended the federal trustee arrangement over Rosneft’s shares in the PCK refinery in Schwedt until 10 March 2026. This means the Federal Network Agency will remain responsible for Rosneft Deutschland as well as stakes in the MiRo and Bayernoil refineries to ensure supply to Berlin and Brandenburg and to secure the Schwedt site. Rosneft Russia said a sale of Rosneft Deutschland is being actively pursued, which the ministry said would be the legally safest and quickest way to enable investment. PCK supplies much of the northeast and Berlin with fuels, heating oil and kerosene and had already been switched from Russian pipeline oil to other sources after the war in Ukraine. » Mere på finanzen.net