Actually, there is nothing surprising in the fact that the international reaction to Vladimir Putin's decree banning transactions with shares owned by unfriendly countries, including in the Sakhalin-1 project, followed almost immediately.

Too much topic, as they say, burning: in particular, the very next day, despite the summer and weekends, the Minister of Economy, Trade and Industry of Japan, Ukoichi Hagiuda, speaking at a press conference, officially announced that the country's energy companies were nowhere from joint projects they are not going to go out with the Russians.

And the Japanese state does not just support them in this, despite any sanctions, the military crisis in Ukraine, the “consolidated position of the West” and other nonsense: the Japanese economy has already got it because of all this.

And she simply will not survive the rejection of Russian energy carriers.

Therefore, the interests of the Japanese side in this case are unchanged: war is war, and lunch, excuse me, is on schedule.

Even if, as a result of the unilateral adoption of rather radical legal measures by the Russian side, Japan will now have to actually pay for this dinner: no one will, of course, restore the extortionate Production Sharing Agreement on Sakhalin.

Just because it was worth tearing up this wonderful legacy of the “dashing 90s” in any case, just the hands did not reach, as far as we understand.

And now, if you'll excuse me, that's it: a convenient opportunity has turned up.

So Vladimir Putin did not waste time on trifles, designating these six months, prescribed in the decree, not only for the Far East, but in general for changing the rules of the global energy game.

At the same time, we must pay tribute: the decree of the Russian president, issued last Friday, became, let's say, significant by no means by chance.

And although, it would seem, this measure applies exclusively to subsoil user companies and firms serving the Russian fuel and energy complex (including banks, which is important), that is, it is quite local and concerns only internal rules in the Russian economy, the world media were alarmed about it quite reasonably: there are there is a feeling that this document not only introduces significant changes to the current Russian regulations proper, but also fundamentally changes the rules of the game in the global market (at least, energy carriers).

And it would be somehow extremely stupid not to notice.

However, let's go in order.

First, official information: last Friday, in the late afternoon, as if on weekends, President of the Russian Federation Vladimir Vladimirovich Putin signed a seemingly completely “technical” decree “On the application of special economic measures in the financial and fuel and energy sectors.”

Which, it would seem, in general, does not introduce anything new into the overall economic picture of the world as a whole.

And nothing aggravates what is happening in the global energy sector in particular (and why worry?).

And it just simply directly prohibits (this is what is called a “direct action document”) until December 31 of the current, 2022, the execution of transactions with shares and shares of Russian strategic companies for investors from so-called unfriendly countries.

In general, it would seem that absolutely, as they say, the working situation, moreover, regarding absolutely specific decisions around the Sakhalin-1 and Sakhalin-2 projects.

And nevertheless, it caused a panic in the markets no less than the decree signed not so long ago by the same Vladimir Putin on the transfer of pipeline gas trade to strong, as it turns out, domestic rubles.

What all the liberal economists also said was that "it is decidedly impossible."

Now it turns out that it is not just “possible”, but absolutely natural and directly follows from the logic of the current economic crisis.


Everything is simple here: the document is deadly specific.

Moreover, it names some projects that it directly concerns.

In particular, we have already mentioned this a little higher, this is a very significant and, we must honestly admit, very much needed by Japan and shameful for our country, the Sakhalin-1 project.

It was carried out on the basis of the Production Sharing Agreement, shameful for any sovereign state (the so-called PSA, which all liberal economists, from Yavlinsky to Chubais, were proud of).

As well as the Kharyaginskoye field, which is key in this sense.

And some other Far Eastern projects.

Well, an exhaustive list of companies and institutions that are affected by the restrictions should be prepared by the government within ten days.

The term is very tough and unusual for our slow-moving bureaucracy in this sense.

So, it's still hot.

To be clear.

The restrictions are directly aimed at transactions with securities constituting the authorized capital of companies, as well as rights and obligations, shares, contracts, on the basis of which investment projects are implemented in Russia.

Moreover, the document explicitly states that any transactions made in circumvention of the presidential decree are recognized by the state of the Russian Federation as null and void.

That is, invalid.

What can I say here: even I, a journalist, although I had experience in business, shivered.

For such words are simply not spoken in space.

And the state, in general, is obliged to answer in an adult way for such statements.

At the same time, operations that are banned can be carried out only on the basis of special permission from the president.

For a second: not even the government, but only the president.

And this, you see, says a lot, at least in the sense of the urgency of the measures taken.

What does it mean.

Putin's decision, at least regarding the Sakhalin (and the Far East in general) projects, is not just overdue, but overripe.

About the need for such measures in relation to the "mossy" democratic energy projects of the Russian Far East, literally prescribed for robbery, who just did not speak.

Not in this case.

Much more important is something else - and this, in our opinion, caused such a disproportionate panic in the Western media: this decree itself.

Which, like the previous one, for "gas for rubles", opens not just an Overton window, but real legal opportunities to revise the legacy of the "beautiful 90s" in the domestic economy.

Including the very real prospects for nationalization, if anyone does not understand something.

Typical “Putin style”: half a year for you guys is enough time to put things in order.

And then, further, the Russian state has the right to make decisions.


So far, they are quite simple, but the main thing here is to at least just start.

And understand that the Russian Federation, like any normal superpower, is capable of establishing its own rules on its own territory and upholding them.

Including, if necessary, by force.

And the rest are invited - and this applies not only to the current decree - either to accept these rules, or to step aside and not interfere.

The Japanese were simply the first to understand this and, judging by the statements of Mr. Ukoichi Hagiuda, they accepted it.

Now it's Europe's turn.

And we will be watching this entertaining process with all our attention, not only because we feel sorry for Europe.

Here, forgive me, as in that fairy tale: there lived a girl - herself, a fool, and to blame.

It's just very curious how the new, post-crisis world will look like, the contours of which appear in the reality surrounding us directly and immediately before our eyes.

And somehow I really want this new world to be, if not better, then at least more honest than the current one.

That's the way it is, excuse me.

The point of view of the author may not coincide with the position of the editors.