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Executive Order on special economic measures in fuel and energy sector in connection with unfriendly actions of certain foreign states and international organisations

June 30, 2022

The President signed the Executive Order On Imposing Special Economic Measures in the Fuel and Energy Sector in Connection with the Unfriendly Actions of Certain Foreign States and International Organisations.

This Executive Order was signed to protect the national interests of the Russian Federation in response to unfriendly actions, which contradict international law, undertaken by the United States and joined by other foreign states and international organisations, aimed at introducing restrictions against Russian citizens and legal entities.

The President resolved that in light of the risk of natural disasters and man-made emergency situations endangering the life and safety of people and threatening the national interests and economic security of the Russian Federation, arising due to the violation by certain foreign entities and individuals of their obligations under the Agreement of the Development of the Piltun-Askokhskoye and Lunskoye Oil and Gas Fields on the Basis of Production Sharing, signed on June 22, 1994, special economic measures shall be applied to these foreign entities and private individuals under their jurisdiction.

In particular, the Government of the Russian Federation is to establish a Russian Limited Liability Company, which will take over the rights and obligations of Sakhalin Energy Investment Company in accordance with this Executive Order. The ownership of the company’s property, created within the framework of the above Agreement, shall be transferred forthwith to the Russian Federation.

This Executive Order was signed in accordance with Federal Laws On Special Economic Measures and Coercive Measures, dated December 30, 2006, and On Measures (Countermeasures) in Response to Unfriendly Actions of the United States and Other Foreign States, dated June 4, 2018.

June 30, 2022