Published by Global Banking and Finance Review
Posted on September 17, 2025
2 min readLast updated: January 21, 2026
Russia is prepared to deepen energy discussions with the U.S., focusing on the Sakhalin 1 project. This follows a decree by Putin allowing foreign investment.
MOSCOW (Reuters) -Russian Deputy Foreign Minister Sergei Ryabkov said on Wednesday that Moscow was ready to deepen discussions with the U.S. on energy cooperation, including on the Sakhalin 1 project, RIA reported.
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 last month a decree 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 Donald Trump in Alaska for a summit 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. The U.S. major took an impairment charge of $4.6 billion to exit its Russian business after Moscow sent troops into Ukraine in February 2022.
(Reporting by Marina Bobrova; Writing by Anastasia Teterevleva; editing by Guy Faulconbridge)
Sergei Ryabkov stated that Moscow was ready to deepen discussions with the U.S. on energy cooperation, specifically mentioning the Sakhalin 1 project as a key area of focus.
Vladimir Putin signed a decree that could allow foreign investors, including Exxon Mobil, to regain shares in the Sakhalin-1 oil and gas project.
Exxon Mobil previously held a 30% operator share in the Sakhalin 1 project but exited its stake, incurring a $4.6 billion impairment charge.
During the meeting in Alaska, opportunities for investment and business collaboration were on the agenda, alongside discussions aimed at finding peace.
Ryabkov indicated that Russia is in contact with the U.S. on various issues, and that dialogue continues, highlighting ongoing energy cooperation.
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