President Vladimir Putin tightened his control over two key sectors of the Russian economy with a decree that bans some foreign banks and energy companies, including Exxon Mobil Corp., from exiting their businesses in the country. Picture: BLOOMBERG
The decree also orders the nation’s government to prepare a list of other energy companies and banks with foreign shareholders that may be subject to the same restrictions. Citigroup said last month that it’s considering a “full range of possibilities” on leaving Russia. Raiffeisen has said that exiting the country is one of its options.Exxon operated the Sakhalin-1 field, which was regarded in Russia as an engineering marvel when it first started pumping in 2005. The project produced about 227,000 barrels a day last year, using two ice breakers to maintain exports even when the sea freezes over in winter.
Russia should nationalised their assets
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Interesting🤔