ExxonMobil says it has left Russia after the “expropriation” of its Sakhalin-1 oil and gas fields by President Vladimir Putin.
The withdrawal — announced in March — was hastened following a dispute after Sovcomflot (SCF) tankers lost their insurance cover as a result of Western sanctions brought in after Russia’s invasion of Ukraine.
ExxonMobil refused to allow six Sovcomflot tankers to carry fuel after the alternative Russian arrangements were made for coverage, according to reports.
