FSUOGM: Germany near to deal on fate of Rosneft assets

Germany is close to a deal to decide the fate of assets belonging to Russian oil company Rosneft that the government took over two years ago in the wake of Moscow’s invasion of Ukraine, Bloomberg reported on July 9.

Rosneft, controlled by the Russian state, agreed with the German government earlier this year to seek a buyer for its local subsidiaries Rosneft Deutschland and RN Refining & Marketing. Talks on a deal have taken place in Berlin, according to Bloomberg, with the deadline for a sale to be agreed due to expire in two months.

Germany placed the Rosneft units under temporary trusteeship in September 2022, just as it did with assets held by Russian gas giant Gazprom. The trusteeship was extended three times, but if Rosneft fails to find a buyer, the units will be nationalised. 

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