Putin lures Americans back into Russian oil project Sakhalin-1

Russia has signaled its interest in renewed energy cooperation with the US. Deputy Foreign Minister Sergei Ryabkov stated that Moscow is prepared to deepen dialogue with Washington, citing the Sakhalin-1 project as a concrete example.

This is an oil and gas project in which the US company Exxon Mobil held a 30 percent stake before the invasion of Ukraine. The company lost this stake after ceasing operations in Russia in 2022 and writing off losses of $4.6 billion.

However, Russian President Vladimir Putin recently signed a decree that would allow foreign investors, including Exxon Mobil, to return to the project.

It is noteworthy that the signing of the decree coincided with the summit meeting between Putin and US President Donald Trump in Alaska, where economic cooperation and peace in Ukraine were negotiated.
(reuters, lup)