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Exxon Escalates Dispute With Russia Over Barred Exit From Giant Oil Project

Exxon Mobil has notified Russian officers it can sue the federal government except Moscow permits the corporate to exit a serious oil-and-gas mission, in accordance with folks acquainted with the matter.

A Kremlin decree banning sure transactions through the end of the year has blocked Exxon since early August from transferring operatorship and selling its 30% stake in the Sakhalin-1 venture in Russia’s Far East. Before the decree, Exxon had said in regulatory filings that it was transitioning operating activities to another party following Russia’s invasion of Ukraine.

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