The Isle of Man Treasury issued General Licence IOM/2025/RUS049 under the Isle of Man’s Russia sanctions framework to allow continued business operations involving PJSC Rosneft Oil Company’s German “Named Subsidiaries”, Rosneft Deutschland GmbH and RN Refining & Marketing GmbH, including entities they own or control. The licence permits payments to or from the Named Subsidiaries under existing or new obligations or contracts, payments to or from other persons under obligations or contracts, and the provision and receipt of economic resources from the Named Subsidiaries. Relevant Institutions may process payments made in accordance with the licence, which also includes notification and record-keeping requirements for designated persons, persons and Relevant Institutions. The permissions do not authorise acts that are known or reasonably suspected to result in funds or economic resources being made available in breach of the applicable Russia sanctions regulations, except as specifically permitted under this or other Treasury licences.
The Treasury (Isle of Man) 2025-11-20
Isle of Man Treasury issues Russia sanctions general licence to permit business with Rosneft Deutschland and RN Refining & Marketing
The Isle of Man Treasury issued General Licence IOM/2025/RUS049 under its Russia sanctions framework, allowing business with PJSC Rosneft Oil Company’s German subsidiaries, Rosneft Deutschland GmbH and RN Refining & Marketing GmbH. The licence permits payments and transactions involving these subsidiaries, with notification and record-keeping requirements for designated persons and institutions. It does not authorise actions breaching Russia sanctions regulations, except as specifically permitted.