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.

Germany is seeking an exemption from U.S. sanctions on Russian oil company Rosneft's German business, a person with direct knowledge of the government discussions said on Thursday, after banks said sanctions could stop them dealing with the local energy supplier.

The German government is racing to secure exemptions from US sanctions targeting Russia’s oil company Rosneft, which still owns three refineries in Germany that have been placed under state administration.

The Treasury Department announced the additional U.S. sanctions on Russia, targeting the oil companies Rosneft and Lukoil. Secretary Scott Bessent told reporters earlier that the sanctions would be announced.

NEW DELHI (Reuters) -Privately-owned Reliance Industries will stop importing oil under its long-term deal to buy nearly 500,000 barrels per day of crude from Russian oil major Rosneft, after the oil producer was sanctioned by the United States,