Russian President Vladimir Putin | Photocredit: Gavriil Grigorov
Russian President Vladimir Putin signed a decree on Friday that foreign investors, including top of the American oil, Exxon Mobil, could allow shares to regain shares in the Sakhalin-1 Oil and Gas Project.
The signing of the decree comes on the day that Russian President Vladimir Putin meets Donald Trump in Alaska for a top where opportunities for investments and business cooperation will be on the agenda, in addition to conversations to find peace in Ukraine.
Friday’s decision was published as a follow-up to one Putin, signed in October 2022, which ordered the seizure of the Sakhalin-1 project.
Exxon previously had a 30 percent share in the lucrative project and is the only non-Russian investor who has left his interest.
Exxon did not answer immediately Reuters Request for comments.
The path to Western investments that return to Russia is unclear, since the US and the European Union should collect to increase far -reaching sanctions to facilitate investments. Companies that may want to return, who have spent considerable amounts of money to leave the country three years ago, are also confronted with high barriers that the Russian government have drawn up.
Trump and his team have considered which sanctions they might be able to lift quickly in the case of progress in conversations. To date, Sakhalin-1 has not been directly indicated by extensive American sanctions against Russian energy.
The decree stipulates that foreign shareholders must take action to support the lifting of Western sanctions if they want to regain their share. They must also conclude contracts for supplies of necessary foreign equipment to the project and transfer funds to Sakhalin-1 project petitions.
Exxon took a depreciation of $ 4.6 billion to leave his Russian company after Moscow sent troops to Ukraine in February 2022.
In December 2024, Putin signed a decree that expanded the sales period for the non-acclaimed Exxon interest in Sakhalin-1 to 2026.
The Decree of October 2022 established Rosneft subsidiary Sakhalinmorneeftegaz-shelf as the new operator, allowing the Russian government to determine the property rights of foreign investors in Sakhalin-1.
In addition to Exxon, Russian company Rosneft, India’s ONC Videsh and the Japanese Sodeco investors were. The Russian government allowed both ONC Videsh and Srodeco to retain their interests.
Published on August 16, 2025
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