Rosneft Germany Refinery Warns U.S. Sanctions Threaten Berlin Fuel Supply (PCK Schwedt)

Management at Rosneft’s PCK Schwedt refinery, Germany’s largest processor supplying about 90% of Berlin’s vehicles, has privately warned Berlin that U.S. sanctions are curbing operations and threatening regional fuel supply. The refinery, granted a temporary exception to late-2024 sanctions, faces expiration on April 29, with banks, insurers and suppliers pulling back due to compliance risk, prompting exploration of a sale to an energy investor or a German state buyer. The January letter urged a permanent exception to avert a disruption to Berlin’s energy security, as October sanctions on Rosneft and Lukoil have already shaken supply confidence. Germany’s energy ministry is in talks to extend the U.S. license and is supporting the refinery, but buyers are hesitating amid heightened geopolitical pressure.