Exxon not the only company that is interested in returning to Russia, says Kremlin

When asked on Wednesday about the possibility of Exxon Mobil returning to Russia, Kremlin spokesperson Dmitry Peskov said that it was not only the U.S. oil major who wanted to return.

Peskov said on RBC radio that "there are more than one company interested in reincarnating their presence on the Russian Market".

Exxon was one of many Western companies that said they would leave Russia as soon as Moscow sent its troops into Ukraine in February 2022. Governments around the world condemned this move and began to impose sanctions.

According to two sources who were familiar with the discussions, Exxon Mobil signed an initial non-binding agreement on Tuesday with Rosneft. The agreement was meant to help Exxon recover a $4.6 Billion write-down on its Russian operations in 2022. Exxon declined comment.

The agreement is a first step in repairing the commercial relationship between the U.S.A. and Russia. However, little progress will be made until Moscow has made enough progress toward a peace agreement in Ukraine, and both the U.S.A. and European Union have relaxed sanctions.

In comments made on Tuesday, Donald Trump also seemed to be escalating his rhetoric against Russia.

Vladimir Putin has also said that Russia will welcome back any companies who have left the country because of, what he termed, political pressure.

He signed a decree last month that would allow Exxon Mobil and other foreign investors to gain shares in the Sakhalin-1 gas and oil project. (Reporting by Gleb Stolyarov Anastasia Lyrchikova. Vladimir Soldatkin wrote the article. Mark Trevelyan, Mark Potter and Mark Trevelyan edited the text.

(source: Reuters)