Russia signals readiness to deepen talks with U.S. on Sakhalin 1 project

Russia's Deputy FM Sergei Ryabkov attends the BRICS Meeting Brazil, 28 April, 2025
Reuters

Moscow said it was ready to deepen discussions with the U.S. on energy cooperation, including on the Sakhalin 1 project, RIA reported on Wednesday citing Russian Deputy Foreign Minister Sergei Ryabkov.

Ryabkov also said that Russia was in contact with the U.S. on various issues, and that dialogue continued.

"I can mention Sakhalin-1 as the most obvious example of the work that has begun in this area," he was quoted as saying by RIA.

Russian President Vladimir Putin signed a decree last month that could allow foreign investors, including top U.S. oil major Exxon Mobil to regain shares in the Sakhalin-1 oil and gas project.

The signing of the decree came on the day Putin met President Donald Trump met in Alaska for a summit on 15 August, where opportunities for investment and business collaboration were on the agenda, alongside talks to find peace in Ukraine.

Exxon previously held a 30% operator share in the lucrative project, and is the only non-Russian investor to have quit its stake.

It's reported that the U.S. took an impairment charge of $4.6 billion to exit its Russian business after Moscow sent troops into Ukraine in February 2022.
 

Tags