The effect of the Trump-Merz summit. The US exempts Rosneft's German branch from sanctions

Bloomberg reported on Wednesday that the United States government has agreed to exempt the German subsidiary of Russian oil company Rosneft from sanctions imposed by Washington on Russia. On Tuesday, German Chancellor Friedrich Merz was received at the White House by US President Donald Trump.

According to Bloomberg, the decision to exempt Rosneft's German daughter from American sanctions is valid for an indefinite period. Officially, the US Ministry of Finance is to announce this on Friday, although – as the agency emphasized – the date of publication of this decision may change.

Reuters asked the German Ministry of Economy to confirm this information. In response, Berlin said it was conducting a “close and very constructive dialogue with the relevant US authorities with a view to extending the appropriate release as soon as possible.”

After Russia's invasion of Ukraine in February 2022, the German authorities took Rosneft's German branch under trusteeship. The Russian entity has shares in three German refineries – in the plants in Schwedt, which is the main supplier of petroleum products in Berlin and Brandenburg, it has 54 percent. shares, in Karlsruhe in Baden-Württemberg – 24 percent, and in Vohburg in Bavaria – 28 percent.

Reuters emphasized that the exemption of Rosneft's German branch from American sanctions reduces the risk of disruptions in the supply of petroleum products to the German market in a situation where tensions in the Middle East threaten to disrupt global oil supplies.

According to declarations after Tuesday's meeting at the White House, Merz and Trump talked mainly about the US and Israel's war with Iran and ways to end the war in Ukraine. (PAP)

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