U.S. Sanctions Relief: Temporary License for Rosneft In Germany

The U.S. issued a temporary Russia-related general license allowing transactions with Rosneft Deutschland and RN Refining & Marketing GmbH, valid until April 29, 2026. The exemption aims to address German ownership issues of Russian oil major Rosneft's assets, amid evolving sanctions legislation.

In an unexpected move, the United States has granted a temporary license permitting transactions involving Rosneft Deutschland and RN Refining & Marketing GmbH. The license, disclosed on a Treasury Department website, allows transactions until April 29, 2026, in response to protracted ownership disputes.

Washington initially proposed a six-month window for Germany to resolve the ownership crisis concerning Rosneft's German assets. This development temporarily exempts Rosneft from U.S. sanctions, offering a reprieve to the embattled oil major.

Bloomberg News recently reported that the Trump administration had engaged with German officials to deliberate the non-renewable nature of this limited general license, highlighting the complexities of international sanctions and economic diplomacy.

(With inputs from agencies.)