A series of moves by the Russian government over "Sakhalin 1 and 2" Countermeasures?

On the 5th, the Russian government established a new Russian company to take over the project "Sakhalin 2", an oil and natural gas development project in the Russian Far East in which a major Japanese trading company also invests.

In addition, President Putin signed a presidential decree prohibiting the sale of shares in Russian companies by companies from countries that are not friendly to Sakhalin-1, and imposed sanctions on Russia. and countermeasures against Japan.

The Russian government announced on the 5th that it has established a new Russian company "Sakhalinskaya Energia" to take over the business of the oil and natural gas development project "Sakhalin 2" from the previous operating company.

In June, President Putin signed a presidential decree ordering that the business entity of "Sakhalin 2" be changed to a newly established Russian company. It said it would be necessary to notify the Russian side whether it agrees to the share transfer.

Japan's major trading companies, Mitsui & Co. and Mitsubishi Corporation, have also invested, so the Japanese side will be forced to respond.

In addition, President Putin signed a presidential decree on the 5th, prohibiting companies from countries that Russia considers unfriendly, including the United States and Japan, from selling shares in Russian companies until December 31st. I decided to ban it.

The target is said to include the oil and natural gas development project "Sakhalin 1", which is being promoted off the coast of Sakhalin in the form of participation by Itochu Corporation and Marubeni.

Regarding Sakhalin 1, while major US oil company Exxon Mobil has announced its withdrawal, Russia seems to be trying to prevent further withdrawal of companies that it considers unfriendly countries.

The series of moves surrounding Sakhalin 1 and 2 are seen as countermeasures against the United States, Europe, Japan, and other countries that impose sanctions on Russia.

Is there a sense of crisis about the withdrawal of foreign companies?

"Sakhalin 1" is being promoted with the participation of major US oil giant Exxon Mobil and Russian state-owned oil company Rosneft. Mobil has announced its withdrawal from the project.

In connection with this, Rosneft said in a statement released on the 4th that ExxonMobil began unilaterally to suspend operations without any agreement with other participating companies, and that production activities on Sakhalin 1 began on May 15th. Since that day, it has been clarified that it has virtually stopped.

"Although we are working with the Russian government and other parties concerned to resume production activities on Sakhalin 1, there is no prospect in sight," he said.

Last month, Deputy Prime Minister Turtnev, who serves as the presidential plenipotentiary representative to the Russian Far East, said that next year's revenues for Sakhalin Oblast will be up to 26% lower than this year's revenues. He expressed a sense of crisis that the economy of Sakhalin, which has been supported by development, and the entire Far East region may be greatly affected.

This seems to be the reason why President Putin has banned companies from countries that are positioned as unfriendly countries from selling shares of Russian companies.