Posted on 10/09/2022 6:39:59 PM PDT by McGruff
Russian President Vladimir Putin has signed a decree installing a new operator for a massive international oil-and-gas project in Russia's Far East, affecting billions of investment dollars from major U.S., Japanese, and Indian companies.
The maneuver and decree on October 7 appear to repeat a strategy that the Kremlin has used recently to seize other foreign-owned energy assets.
Putin ordered that authority be given to the Russian government to decide whether foreign stakeholders in the massive Sakhalin-1 oil and gas project may retain their holdings in the joint venture.
The move toward nationalization further complicates U.S. Exxon Mobil's efforts to exit Russia since international sanctions were imposed over Putin's order of a full-scale invasion of Ukraine in late February. Exxon has a 30-percent stake in the operations of Sakhalin-1.
(Excerpt) Read more at rferl.org ...
That’s the way Commies work.
BiXiden is really not different from Pootie-Poot.
Now Putin is making enemies of Japan and India
good
What goes around, comes around…
Open an independent branch of Exxon Mobil in Russia incorporated under Russian laws. Then retain the stocks in the company so most is controlled by corporate headquarters.
Problem solved. Exxon can be happy and Russia can be happy.
Can’t they just make a deal?
This is radio free Europe = CIA. Japan is already an enemy, and even bet India will be made whole in the deal.
...pass a law that would enable Exxon to confiscate Russian Oil Tankers anywhere in the world. Exxon provides money, Japan and India Navy Ships.
“That’s the way Commies work.”
If the roles were reversed, wouldn’t the US, or any country do the same??
Well [as Reagan would begin...], there’s always a MAGA approach.
Gosh it’s too bad we can’t produce oil here in the US
A friend of mine was drilling those wells for Pootin and Exxon. He is back in the states now.
India’s interests are going to be observed, as for Japan, it is a tough luck.
I have no more sympathy for investors sending huge amounts of money to fund operations in Putin’s Russia and losing it then I do for those investing in China, Venezuela, or another anti American den of inquity.
Without foreign tech help, Russia won’t be able to keep that field producing. That is the most difficult field in Russia and without Haliburton and Schlumberger it’s not happening.
People’s memories are short, it seems.
ExxonMobil withdrew from the project in March after Russia invaded Ukraine, and announced they would discontinue operations, ending all future involvement with the project (and Russian investments generally) whatsoever: https://corporate.exxonmobil.com/News/Newsroom/News-releases/2022/0301_ExxonMobil-to-discontinue-operations-at-Sakhalin-1_make-no-new-investments-in-Russia
If you think Russia was going to let such an asset just sit there when the former manager LITERALLY picked up its ball and went home (though, given all of the international sanctions from America and Europe against Russia, ExxonMobil’s hands may well have been tied), don’t turn around and cry foul when they decide to play squatter’s rights.
Also, Radio Free Europe leaves out that Russia is only targeting Exxon’s share of the investment (https://www.bloomberg.com/news/articles/2022-10-08/putin-orders-sakhalin-1-project-transferred-to-russian-entity); Japan and India’s respective investments in the project do not appear to be targeted.
Putin has the welfare of his country in mind more than Biden minds the welfare of his country.
finally someone sees the obvious. india will not be locked out. should be plain to everyone following geopolitics.
they may be leverage. russia knows japan is an unwilling member of the anti-russia gang. japan is tied to the US by the pacific security issues with china, and has to go along.
Yeah, I see that.
I’ve not understood why of late, the Rooskies, being a significant part of Western Civ over the centuries, have been kicked to the curb.
Is it internal where that is what they want or is it Nueland, Kissinger, WEF, CCP?
It makes no sense to me.
Biden should be expanding US energy production. By not doing so he’s clearly jeopardizing US security and prosperity. That alone would substantially prop up the US and its allies security.
Putin is grinding down his nation’s military, wasting resources on the Ukrainian war and making his country into a pariah.
Both are losers harming their respective countries.
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