Putin issued a decree on the nationalization of the investment company Sakhalin Energy.

President Vladimir Putin issued a decree imposing exceptional measures in the energy sector and nationalizing the investment company Sakhalin Energy under the ownership of the Russian Federation in response to the sanctions of some countries against Russia.

Among these actions is the nationalization of Sakhalin Energy Limited Company into the ownership of the Russian Federation, as well as the creation by the state of a limited liability company, to which all the rights and obligations of a foreign company are transferred.

Gazprom Sakhalin Holding will acquire a stake in Sakhalin-2 in proportion to its stake in Sakhalin Energy.

Source: RT

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