Germany Extends Trusteeship Over Rosneft Assets

Germany is extending its trusteeship over the local units of Russia's Rosneft for another six months, anticipating a sale of these assets to Qatar. This decision, made ahead of the trusteeship's expiration on September 10, allows Rosneft to negotiate the potential sale of its significant 54.17% stake in the PCK Schwedt refinery. The trusteeship was initially implemented in 2022 in response to geopolitical tensions following Russia's invasion of Ukraine and has been extended multiple times since. The Qatar Investment Authority, a notable investor in Germany, is currently conducting due diligence on the assets. If a sale does not materialize, Germany may resort to expropriating Rosneft's assets under its energy security laws, similar to previous actions taken against Gazprom.