Kremlin officials have signaled growing interest from international energy firms in re-entering Russia's market, with ExxonMobil reportedly taking preliminary steps to recover assets left behind during the 2022 exodus of Western companies. Spokesperson Dmitry Peskov confirmed Wednesday that multiple corporations are exploring opportunities to resume operations, though he declined to name specific entities.
The development follows reports of ExxonMobil signing a non-binding agreement with Russian state energy firm Rosneft to address a $4.6 billion writedown from its 2022 withdrawal. While neither party has publicly confirmed the deal, analysts suggest it reflects tentative efforts to rebuild commercial ties strained by sanctions imposed after Russia's military operation in Ukraine.
President Vladimir Putin recently approved measures allowing foreign investors to regain stakes in strategic projects like the Sakhalin-1 oil and gas venture. However, experts caution that significant progress remains contingent on geopolitical developments, including potential peace negotiations in Ukraine and relaxation of U.S.-EU sanctions regimes.
The potential thaw in business relations comes as global energy markets face continued volatility, with multinational corporations weighing operational risks against resource access. Market watchers note that any return would likely occur gradually, with companies seeking legal safeguards against future political uncertainties.
