Merz Expects US Will Exempt Rosneft’s German Unit From Sanctions

German Chancellor Friedrich Merz said he’s optimistic that the US will exempt Rosneft PJSC’s German unit from Washington’s latest sanctions against Russia.

“We will discuss this with the Americans,” Merz told reporters at a European Union summit in Brussels on Thursday. “I assume that a corresponding exemption for Rosneft will be granted.”

The chancellor added that it was actually unclear whether the German business, Rosneft Deutschland, “even needs” an exemption, as the penalties say Rosneft must own at least 50% of the business. “It is 50%,” he said.

There are concerns that Rosneft’s German unit may be cut ...