Russian Deputy Foreign Minister Sergei Ryabkov said on Wednesday that Moscow is ready to broaden discussions with the United States on energy cooperation, highlighting the Sakhalin-1 oil and gas project as a key area of potential collaboration. His comments were reported by the RIA news agency.

Ryabkov noted that despite strained relations, Russia and the US remain in contact on a range of issues and dialogue continues. “I can mention Sakhalin-1 as the most obvious example of the work that has begun in this area,” he said.

The statement follows a decree signed by President Vladimir Putin last month that could allow foreign investors, including US oil giant Exxon Mobil, to regain shares in Sakhalin-1. The decree was issued on the same day Putin met with former US President Donald Trump in Alaska for a summit focused on investment opportunities, energy cooperation, and efforts to advance peace in Ukraine.

Exxon Mobil, which once held a 30 percent operator stake in Sakhalin-1, was the only non-Russian investor to fully exit the project. The company announced a $4.6 billion impairment charge in 2022 as part of its withdrawal from Russia following Moscow’s military campaign in Ukraine.

The potential re-entry of foreign investors into Sakhalin-1 marks a significant shift in Russia’s posture, signalling an effort to stabilise energy cooperation channels even amid broader geopolitical tensions.

Melissa Enoch

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