Germany considers nationalising Rosneft’s German assets after U.S. sanctions

Germany is weighing nationalising Rosneft’s German operations after new U.S. sanctions cast doubt over the future of key energy assets, sources told Reuters, though Berlin still hopes for a long-term sanctions waiver.

Berlin has resumed discussions on taking full control of Rosneft’s German assets – including the Schwedt refinery that supplies most of the capital’s fuel – after Washington sanctioned the Russian oil producer but granted its German unit a licence to operate until April 2026. The assets have been under state trusteeship since 2022, a temporary arrangement renewed every six months and open to legal challenge.

While Germany prefers to avoid seizing the assets amid risks of compensation claims and potential retaliation against German firms in Russia, officials are preparing contingency plans, including a sale to a foreign investor. Green Party lawmaker Michael Kellner again called for full nationalisation, saying the assets are strategically critical. Rosneft has failed to sell the business since 2024, and Russia retains control of the pipeline used to deliver Kazakh oil to Schwedt.