Germany Extends Trusteeship Over Rosneft's Local Units Amid Ongoing Uncertainty

Germany extends its trusteeship over Russia's Rosneft local units for six more months, as Rosneft seeks buyers for its stakes. Initially placed in 2022 after Russia's Ukraine invasion, the trusteeship has been extended three times, with the current term expiring soon.

Germany has decided to extend its trusteeship over the local units of Russia's Rosneft for another six months, a source familiar with the matter informed Reuters on Monday. This development comes as the Russian energy group actively seeks a buyer for its shares.

In 2022, following Russia's invasion of Ukraine, Berlin placed Rosneft's German assets under trusteeship. These assets include a significant 54.17% stake in Berlin's Schwedt refinery.

The government has extended the trusteeship three times since then, with the latest extension set to expire on September 10.

(With inputs from agencies.)