Oil company Exxon interested in returning to the Russian market, Kremlin spokesman confirms

Kremlin spokesman Dmitry Peskov hinted on Wednesday that not only the US company Exxon Mobil, but also other Western companies are interested in returning to the Russian market. He said this to the radio station RBC.

Like many other companies, the oil company Exxon announced its withdrawal from Russia shortly after the invasion of Ukraine began in February 2022. At the time, the company wrote off around $4.6 billion in connection with its Russian assets.

According to two sources familiar with the talks, Exxon Mobil and Russian state-owned company Rosneft have signed a non-binding agreement that could pave the way for recovering this loss. Exxon declined to comment.

Although the agreement suggests a certain rapprochement, experts point out that an actual return of foreign companies would depend on a relaxation of sanctions by the US and the European Union – which would only be possible if progress were made in the peace talks on Ukraine.

Russian President Vladimir Putin repeatedly emphasizes that Russia welcomes companies that left the country under political pressure.

(reuters, max)