Russian Rosneft under threat: German oil refineries may be taken over by the state

The German government is discussing nationalizing subsidiaries of Russia’s Rosneft after the United States imposed sanctions on Russia’s largest oil company. Among the assets that could come under state control are oil refineries that supply fuel to Berlin, including a critical plant in Schwedt.

This is reported by Reuters, citing two informed sources.

Last week, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) granted a waiver from sanctions on Rosneft’s German subsidiaries, Rosneft Deutschland GmbH and RN Refining & Marketing GmbH, until April 29, 2026. German officials are currently discussing two scenarios: obtaining a permanent waiver from sanctions or seizing the assets and selling them to a foreign investor.

Berlin has so far refrained from confiscating the assets because of the risk of compensation to Moscow and a possible response in the form of seizure of assets of German companies in Russia. Russian media estimate the value of Rosneft’s German assets at about $7 billion, but Reuters notes that the real price may be less than half that amount.

Green Party MP Michael Kellner called on the government to nationalize Rosneft’s business in Germany, calling it systemically important for the country. Kellner added that Qatar and Kazakhstan had shown interest in acquiring these assets as early as 2024.

Rosneft Deutschland owns stakes in several refineries: the country’s largest refinery in Karlsruhe (24%), PCK Raffinerie in Schwedt (54.17%) and BayernOil Raffineriegesellschaft in Neustadt an der Donau (28.57%). The Schwedt refinery supplies fuel to most of eastern Germany, including Berlin Airport, and is connected to the Druzhba pipeline, which previously supplied Russian oil.

Recall that in late October, the Donald Trump administration announced the first major package of financial restrictions aimed at the Russian economy . This move became part of Washington’s new strategy, the aim of which is to force the Kremlin to end the war against Ukraine.

As reported, the US, in its new package of sanctions, hit not only the oil giants Rosneft and Lukoil, but also their subsidiaries . At the same time, the German division of Rosneft managed to avoid restrictions.

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