FRANKFURT/BRUSSELS, Feb 20 (Reuters) - The European

Commission on Friday approved a new trusteeship structure that

establishes Berlin's long-term control over the German assets of

Russian oil ​group Rosneft, part of efforts to ‌find a

structural solution for the business.

The assets, which include stakes in the PCK ⁠Schwedt,

MiRo and Bayernoil refineries, were placed in the German

government's ⁠trusteeship in 2022 after Moscow's invasion of

Ukraine ‌rocked Germany's decades-long ‌energy ties with Russia.

The trusteeship has to be renewed every six months ​on

grounds of preserving energy security, regularly ‌creating

uncertainty mainly over the PCK Schwedt refinery, which supplies

most of the fuel to Berlin.

The current trusteeship ​expires on March 10.

"The ​transaction examined ‌by the Commission under merger

control rules relates to a new indefinite trusteeship over the

German Rosneft entities, under national ⁠law," a Commission

spokesperson said.

"Under the new trusteeship, the shareholders ⁠of the

German Rosneft entities are barred from exercising their voting

rights for the duration of the trusteeship."

Friday's decision essentially removes one regulatory

hurdle to keep PCK Schwedt running under German ⁠control ‌while

majority ownership stays with Rosneft, a carefully designed

structure ‌aimed at avoiding

expropriation

and possible related lawsuits.

It does, however, not ⁠address the issue of U.S.

sanctions on Rosneft as part of Washington's effort to squeeze

Russia's energy sector, with Berlin last year

securing an exemption

for PCK Schwedt that expires on April 29.

Last month

, management at the refinery privately warned Berlin that

U.S. sanctions were hurting its business ​and threatening fuel

supply for the country's capital and the region, according to

correspondence seen by Reuters.

(Reporting by Christoph Steitz, Foo ​Yun Chee and Christian

Kraemer, additional ‌reporting by Olesya Astakhova, editing by

Ludwig Burger ​and Thomas Seythal)