Rosneft's German subsidiary is affected by sanctions and faces the risk of being cut off from customers. Sources familiar with the matter say that Rosneft's German subsidiary may be at risk of being cut off from key customers due to not being exempted from the latest US sanctions against Russia. The subsidiary, which was taken over by the German government in 2022, is facing threats from oil traders, banks, and oil companies to terminate their ties. The German government is currently negotiating with the US to exempt the subsidiary from the sanctions. Following the outbreak of the Russia-Ukraine conflict in 2022, the German government placed Rosneft's assets in Germany under temporary trusteeship but stopped short of nationalizing them. A spokesperson for the German Economy Ministry said by phone that a formal statement is expected soon but declined to comment further.
