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Headlines

US allows oil sales from Russia's Sakhalin-2 project through June 18

Published by Global Banking and Finance Review

Posted on December 17, 2025

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WASHINGTON, ‌Dec 17 (Reuters) - The ‍U.S. ‌Treasury allowed oil sales from ⁠Russia's ‌Sakhalin-2 project through June 18 next year, a ⁠move that likely allows ​production of liquefied natural ‌gas from ⁠the project to continue.

The move is important for ​U.S. ally Japan, which gets about 9% of its LNG ​from ‍Russia. The ​Treasury Department on Wednesday issued the general license for transactions with Sakhalin-2, a waiver ⁠to sanctions that had been imposed ​on the project by former President Joe Biden in ‌2022.

(Reporting by Timothy Gardner, Editing by Franklin Paul)

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