German Economy Minister Katerina Reiche told “Reuters“ that the US government has provided written guarantees that the German business of the Russian oil company “Rosneft“ will not fall under the new US energy sanctions, News.bg reports.
According to her, Washington has issued the so-called “Letter of Comfort“ (letter of assurance), officially recognizing that Rosneft's German operations are completely separated from the Russian parent company and are not affected by the sanctions regime.
“The US confirmed in writing that the assets in Germany are completely separated from Russia“, she emphasized Reiche.
Berlin has demanded clarity from Washington after the introduction of new sanctions that prohibit Western banks and companies from doing business with certain Russian companies. The German side pointed out that the affected refineries have been managed by a German state trustee since 2022 and are vital for the national energy supply.
Among the key assets is the PCK refinery in Schwedt, one of the largest in Germany, which provides more than 12% of the country's fuel processing capacity. “Rosneft“ owns 54.17% of the enterprise, which is a major employer in the state of Brandenburg - a region with growing support for the far-right party “Alternative for Germany“ (AfD).
Washington's decision is seen in Berlin as critically important for the stability of the German energy system, as it removes the risk that the Schwedt refinery and other sites in “Rosneft Deutschland“ to be blocked from international financial markets.