________
Russia decree opens door for Exxon return to Sakhalin-1 project
By Reuters | August 16, 2025
MOSCOW, Aug 15 (Reuters) - Russian President Vladimir Putin on Friday signed a decree that could allow foreign investors, including top U.S. oil major Exxon Mobil (XOM.N), opens new tab, to regain shares in the Sakhalin-1 oil and gas project.
The signing of the decree comes on the day Russian president Vladimir Putin meets Donald Trump in Alaska for a summit where opportunities for investment and business collaboration will be on the agenda, alongside talks to find peace in Ukraine.
Friday's decree was published as a follow-up to one Putin signed in October 2022, which ordered the seizure of the Sakhalin-1 project.
Exxon previously held a 30% operator share in the lucrative project, and is the only non-Russian investor to have quit its stake.
Exxon did not immediately reply to Reuters request for comment.
The path to Western investment returning to Russia is unclear given the U.S. and European Union would need to lift far-reaching sanctions to facilitate investment. Companies who might wish to return, having spent significant amounts of money to exit the country three years ago, also face high barriers put up by the Russian government.
Trump and his team have considered what sanctions they may be able to lift quickly in the case of progress in talks. Sakhalin-1 has to date not been directly designated under extensive U.S. sanctions on Russian energy.
Please go to Reuters to continue reading.
________
US-Russian cooperation. This has certain people inside the US really pissed off:
Wait to see if Russia allows Japan back into the Sakhalin-1 project considering Japan in obedience to the US followed on Russian economic sanctions:
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.