On Wednesday, October 22, the UK government issued a special license allowing British companies and banks to conduct normal business with the German subsidiaries of the sanctioned company "Rosneft."
This concerns the companies Rosneft Deutschland GmbH and RN Refining & Marketing GmbH, which are currently under German control at least until March 2026, Reuters reports.
Interestingly, last week Britain imposed a new package of sanctions against Rosneft and Lukoil, accusing these companies of financing Russia's war against Ukraine.
The exception for the two subsidiaries of the Russian oil company is explained by London as they are effectively not controlled by Moscow – Berlin took them under state management back in September 2022.
The so-called "trusteeship" allows the German government to manage Rosneft's stakes in key refineries in the country – PCK Schwedt, MiRo, and Bayernoil.
The use of Russian assets is necessary for Berlin to ensure stable energy supplies for the German economy.
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