Putin: many Western companies expect to return to Russia once political restrictions are lifted

Putin: many Western companies expect to return to Russia once political restrictions are lifted

Russian President Vladimir Putin has indicated that many Western companies are eager to return to Russia once political restrictions are lifted. This sentiment was echoed by the governor of Russia's Sakhalin region, Valery Limarenko, who stated that the potential return of U.S. energy major Exxon Mobil would be beneficial for the local oil and gas business [1].

Exxon Mobil previously held a 30% operator share in the Sakhalin-1 oil and gas project but exited its stake after Moscow sent troops into Ukraine in February 2022. The Russian government recently signed a decree that could allow foreign investors, including Exxon Mobil, to regain shares in the Sakhalin-1 project [1].

The decree was published as a follow-up to one signed in October 2022, which ordered the seizure of the Sakhalin-1 project. The Russian government has allowed both India's ONGC Videsh and Japan's SODECO to keep their stakes in the project [1].

During his visit to China, Putin highlighted the positive outcomes of his meetings with Chinese President Xi Jinping and Indian Prime Minister Narendra Modi. Putin emphasized the importance of strengthening ties with major economies like India and China, which have become crucial economic lifelines for Russia during the Ukraine conflict [2].

The Russian Direct Investment Fund has announced new projects with China and India, indicating a continued effort to bolster economic cooperation despite Western sanctions. Putin's visit to China also underscored the growing importance of the Shanghai Cooperation Organization (SCO) as a counterweight to Western influence [2].

In conclusion, Putin's comments and the recent decree suggest that Russia is actively seeking to attract foreign investment and strengthen its economic ties, particularly with major economies in Asia. As political restrictions ease, many Western companies are expected to return to Russia, potentially boosting the local oil and gas industry and broader economic growth.

References:
[1] Reuters. (2025, September 4). Russia's Sakhalin Governor Says Exxon's Return Would Be Beneficial. Retrieved from https://www.reuters.com/business/energy/russias-sakhalin-governor-says-exxons-return-would-be-beneficial-2025-09-04/
[2] Kyiv Independent. (2025, September 1). Putin Blames NATO Expansion for War in Ukraine at China's SCO Summit. Retrieved from https://kyivindependent.com/putin-blames-nato-expansion-for-war-in-ukraine-at-chinas-sco-summit/