German government may move to nationalize Rosneft’s assets in the country – Reuters
30 October 2025 16:05
US sanctions against the Russian oil company Rosneft have led to renewed discussions in Germany about the nationalization of the company’s subsidiaries, including the PCK refinery in Schwedt, in eastern Germany.
This was reported by Reuters, citing two anonymous sources, "Komersant Ukrainian" reports.
Earlier, the US Treasury issued a general license to conduct transactions with Rosneft subsidiaries in Germany for the next six months.
“All transactions involving Rosneft Deutschland GmbH or RN Refining & Marketing GmbH or any entity in which they hold a 50% or greater interest are permitted until 00:01 a.m. EDT on April 29, 2026,” the document, published on October 29, states.
The permanent withdrawal of sanctioned subsidiaries from the US sanctions remains the best scenario for Berlin. However, German officials are also considering the possibility of confiscating the companies and selling them to a foreign investor, the sources told Reuters.
What is the value of Rosneft’s assets in Germany?
The agency recalls that Russian media reported that the value of Rosneft’s assets in Germany was estimated at $7 billion. However, one of Reuters’ sources believes that their real value may be half that. Meanwhile, Moscow has already warned of possible consequences for German business in Russia if Rosneft’s assets are confiscated in Germany.
Michael Kellner, a member of the Bundestag from the Union 90/Greens party, calls for the nationalization of Rosneft’s assets as “systemically important” for Germany. According to him, in 2024, Kazakhstan and Qatar showed interest in buying Rosneft’s assets in Germany. However, it is unclear whether their interest has been maintained to date.
Currently, Rosneft Deutschland buys oil from Kazakhstan, but supplies are made through a pipeline that remains under Russian control.
