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The President signed Executive Order On Amendments to Executive Order of the President of the Russian Federation No 723 of October 7, 2022, On Additional Special Economic Measures in the Fuel and Energy Sphere in Response to Unfriendly Actions of Some Foreign States and International Organisations.
Amendments to Executive Order No 723 of October 7, 2022, pertain to the deadline for selling foreign partners’ unclaimed stake in the new operator of the Sakhalin-1 project. This deadline has been extended until the end of 2024.
The unclaimed stake in the equity capital that has not been transferred to the foreign party of the consortium shall be assessed by the Russian Federation Government and then sold to a Russian legal entity meeting specific criteria as determined by the Government as per the procedure established by the Government of the Russian Federation. The said assessment and sale of the stake shall be carried out by the Russian Federation Government by January 1, 2025.
April 8, 2024