The U.S. administration will grant an indefinite waiver from sanctions for the PCK-Raffinerie refinery in Germany, previously controlled by Rosneft.

PCK-Raffinerie, one of the largest oil refineries in Germany, has long been controlled by the Russian company Rosneft. According to Bloomberg News, the U.S. administration will provide an unlimited waiver of sanctions for Rosneft's German unit.

The German Ministry of Economy has confirmed that it is in constructive dialogue with American authorities to extend this waiver.

After Russia's invasion of Ukraine, Germany took control of Rosneft's local units, including the PCK Schwedt refinery, essential for fuel supply to the Berlin region.

An official decision from the U.S. Treasury's Office of Foreign Assets Control is expected, and the extension of the sanctions waiver could prevent disruptions in refining operations in Germany, in the context of the instability of global energy markets.