Exxon Mobil has notified Russian officials it will sue the federal government unless Moscow allows the company to exit a major oil-and-gas project, according to people familiar with the matter.
A Kremlin decree banning certain transactions through the end of the year has blocked Exxon since early August from transferring operatorship and selling its 30% stake in the Sakhalin-1 venture in Russia’s Far East. Before the decree, Exxon had said in regulatory filings that it was transitioning operating activities to another party following Russia’s invasion of Ukraine.