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Western firms make move to get back into Russia as peace efforts signal end of isolation
The Observer
|August 31, 2025
When Russia launched its invasion of Ukraine, western companies ran for the exit amid a wave of international opprobrium. Now, some firms are manoeuvring to get back in as US efforts to end the war ease Russia's isolation.
On the same day as President Donald Trump rolled out the red carpet for him in Alaska earlier this month, Vladimir Putin signed a decree that would open the door for the US firm ExxonMobil to regain its stake in the Sakhalin-1 oil and gas project.
Moscow seized ExxonMobil’s stake without compensation and awarded it to a subsidiary of the Russian firm Rosneft after ExxonMobil announced it was quitting Russia in 2022.
For the Kremlin, getting ExxonMobil and other western companies back would help stabilise Russia’s economy, which has been bruised by sanctions.
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