Stop Doing
Business with Russia
Russia initiated aggression against Ukraine in 2014. On February 24, 2022, it started a full-scale military invasion to the Ukrainian territory. This brutal war and military crimes of Russian troops caused a humanitarian crisis in Ukraine with thousands civilians killed and millions becoming refuges. As a reaction to this act of aggression, many international companies decided to leave the Russian market, while some others continue doing business there as usual. We track such decisions of companies and urge them to stop funding the war.
Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business
Pausing InvestmentsReducing Activities: company scaling back some business operations while continuing others
Scaling BackPause operations: company temporarily curtailing operations while keeping return options open
SuspensionClean Break: the company completely halting Russian engagements or exiting Russia
WithdrawalExit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exit Completed
Initially promised to suspend investment and technology deployment to its Russia operations. But the company increased its market share in Russia and is expanding. The National Agency for the Prevention of Corruption (NACP) has included the leading global oil company SLB (formerly Schlumberger), headquartered in the USA, on the list of international sponsors of the war. On July 14, 2023 SLB announced that it is halting shipments of products and technology into Russia from all SLB facilities worldwide in response to the continued expansion of international sanctions. SLB-based oilfield services provider SLB has said it has no current plans to end its operations in Russia despite the ongoing conflict with Ukraine and resulting Western pressure. The world's largest oilfield services company SLB is expanding in Russia after its main Western competitors exited the market in the wake of a full-scale invasion of Ukraine. Documents obtained by the analytics firm Dallas revealed the company – formerly known as Schlumberger – continued transferring proprietary drilling technology to Russian manufacturers as recently as February 2025, just weeks after the new restrictions took effect.
Azerbaijan's SOCAR halts Russian crude supplies to Turkish refinery. Private Russian oil producer Lukoil will lend Azeri state oil firm Socar $1.5 billion as part of a broader deal that will allow Socar's 200,000-barrel-per-day Turkish STAR refinery to process Russian crude again. 28.09.2023: The secondary legal entity (LLC "CHERNOMORSERVIS") was liquidated but the key one (LLC "SOCAR RUS") is doing business as usual. At the end of August 2024, Russia (Gazprom) and Azerbaijan (SOCAR) agreed to develop gas cooperation and expand strategic partnership, but specific projects have not been announced yet. Among the public procurement tenders, the company has such customers as the Russian Guard and Russian military units. Slovakia's Slovensky Plynarensky Priemysel (SPP) is in talks with Azerbaijan's state oil company SOCAR on gas purchases.
Promised to suspend new investments and technology-deployments in Russia. Halted all shipments (no joint ventures or partners in Russia). The Russian branch of the international oil service company Weatherford intends to continue to fulfill existing contracts and conclude new agreements with customers. This follows from the reports of Weatherford's Russian structures, including "Weatherford" LLC, which accounts for the bulk of the company's revenues in the Russian Federation. American oilfield services company Weatherford International is expanding its operations in Russia, despite US sanctions.
Suspend $500M new investment and significant operations and partnerships. China's top refiners PetroChina and Sinopec are resuming purchases of discounted Russian crude after a brief pause in late 2022, just before the European Union embargo on Russian oil started. NACP adds the three largest Chinese oil and gas companies to the list of international sponsors of war. The company has stopped buying Russian oil as it conducts additional checks to ensure compliance with sanctions requirements and awaits a "clear picture" of a future Russian-American agreement to end the war in Ukraine. The company noted that it will resume supplies if the negotiations lead to the weakening or lifting of US sanctions on Russian oil, the source added on condition of anonymity. The company has stopped buying Russian oil as it conducts additional checks to ensure compliance with sanctions requirements and awaits a "clear picture" of a future Russian-American agreement to end the war in Ukraine. The company noted that it will resume supplies if the negotiations lead to the weakening or lifting of US sanctions on Russian oil, the source added on condition of anonymity. One of China's largest crude oil buyers, Sinopec Shanghai Petrochemical, cut purchases from Russia in the first quarter after more than doubling in 2024. Sinopec, a leading Asian refiner, resumed purchases of Russian oil after a brief pause in March 2025 to assess risks from sanctions imposed by the United States on Russian companies. Revenue increased in 2024 vs 2023 by more than +100%.
No official statement
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement
There are no orders to change the status in Russia
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started. 14.07.2025: The entry regarding the founder of TEK Management Company LLC was removed from the Unified State Register of Legal Entities. SVYAZTEKH LLC becomes one of the organization's new founder.
Still operating and investing in Russia
Received revenues in Russia in 2021, there is no any official announcement.
Received revenues in Russia in 2021, there is no any official announcement
Stop buying Russian oil by the end of 2022. Vitol sells stake in Russian Arctic development. Vitol announces that it has divested its interest in Vostok Oil LLC. Vitol said: “Product exported from Turkish refineries is not Russian origin, according to all international regulations.” It said its volumes of Russian crude oil and products traded had fallen by more than 90% since the first quarter of 2022 and “volumes are now negligible”. “We continue with our policy of minimising purchases of Russian origin products, in full compliance with all applicable legislation and regulation in relation to sanctions,” Vitol said, adding that it continued to have a presence in Ukraine and intended to invest in the country long term. Revenue increased in 2024 vs 2023 by more than +30%.
The company continues to rebuff U.S. requests to pump more oil to help tame surging crude prices, instead sticking by an agreement with Russia to only marginally increase output. Saudi Aramco cuts December 2025 crude rates, opening window for Indian refiners post-Russia curbs.
Received revenues in Russia in 2021-2024, the company announced that it stopped doing business with russia but it still owns the local company - PSI LLC where PSI SOFTWARE AG is the shareholder. Revenue increased in 2024 vs 2023 by more than +50%.
According to Kpler, for the first time this year, LUKOIL shipped low-sulfur oil from its Caspian fields to the Emirati ADNOC refinery in Ruwais. This is the second such delivery to the refinery of the Emirati company.
Türkiye is keen to extend its cooperation with the Russian State Atomic Energy Corporation (Rosatom), according to Türkiye’s energy and natural resources minister. Following the established cooperation with Rosatom for the construction of Türkiye’s first nuclear power plant, the Akkuyu plant in Mersin, Ankara would like to extend this partnership for the construction of the second plant in Sinop in the Black Sea region, Alparslan Bayraktar said in his address at the two-day international nuclear energy event ATOMEXPO-2024 that kicked off on Monday in the Russian coastal city of Sochi.
Dubai-based AMUR TRADING - FZCO and AMUR INVESTMENTS LIMITED are one of the largest traders buing Russian oil from Rosneft.
Argus launches freight rates for Russian petroleum products exports.
The Dubai company ATS Heavy Equipment & Machinery sold the most parts to Russia. More than 700 deliveries worth more than $40 million were made in just one year. The largest number of spare parts for Boeing and Airbus aircraft went to the Aeroflot group, which, in addition to Aeroflot itself, includes the companies "Russia" and "Pobyeda".
Since February 24, the company has not commented on the exit from the russian market and continues to sponsor the war in Ukraine.
Bellatrix Energy Ltd., a Hong Kong company that was unknown in the oil market before the war. Owned by an Azerbaijani citizen called Bilal Aliyev, according to corporate filings, it bought 151,000 barrels a day in December from several Russian oil companies, the customs data show.
BHEL signed MoU with Rosoboronexport, Russia. The aim of the MOU is to cooperate and undertake joint projects and operations for defence systems.
Bought 2 million barrels of Russian Urals for May loading but will not consider prompt cargoes from the country until more clarity is available. Bharat Petroleum Corp (BPCL) has bought crude oil from Abu Dhabi in a spot tender to replace oil from Russia after the U.S. sanctioned two major Russian producers, two trade sources said on Monday, Nov 03, 2025.
On December 30, Gazprom Export and its main partner in Turkey, BOTAŞ, signed a package of agreements on cooperation in the field of gas supplies and the use of gas transmission infrastructure. In particular, a new contract was signed for the supply of natural gas to BOTAŞ from January 1, 2022 to December 31, 2025. The contract involves the supply of up to 5.75 billion cubic meters. m of gas through the Turkish Stream gas pipeline annually for four years. BOTAŞ stated that the contract would be fulfilled despite the war in Ukraine.
The head of Russia’s state-owned atomic energy corporation Rosatom says the company is in talks with Iran to construct another nuclear power plant in the country. On the ongoing construction at the Bushehr nuclear power plant, he said that Rosatom is working very actively on the project for the plant's second and third reactor units.
The US Senate's recent approval of a bill banning imports of Russian low-enriched uranium (LEU) threatens to derail the gradual transition of U.S. commercial uranium enrichment company Centrus Energy back to commercial uranium enrichment. Nuclear fuel supplier Centrus Energy, opens new tab said on Monday it has received a notice from Russia's TENEX that its government passed an order, which canceled its license to export low-enriched uranium to the U.S., effective through Dec. 31, 2025. Centrus Energy relies on Russian LEU imports under DOE waivers, balancing U.S. nuclear needs with geopolitical risks.
Continued relations with Russia.
Indian refiner Chennai Petroleum Corp Ltd aims to almost double the processing of Russian oil in the current fiscal year that began in April, drawn to the discounts offered, its head of finance Rohit Kumar Agrawala.
Russia's state nuclear corporation Rosatom and state-owned China National Nuclear Corporation have been tapped to lead separate consortiums to build the first nuclear power plants in Kazakhstan.
Business as usual, agree to use rouble, yuan for gas payments. Turkmenistan refused to pump Russian gas to China. The Kremlin's plans to create a "gas union" in Central Asia to pump more gas to China have met with resistance from Turkmenistan, China's largest supplier of pipeline gas. Turkmenistan does not plan to connect Russia to the pipeline through which gas is supplied to China, the country's Foreign Ministry said. Turkmenistan, Kazakhstan and Uzbekistan are already supplying China with gas together through a pipeline built by the state-owned Turkmengas and China's CNPC. Of the 55 billion cubic meters per year, Turkmen gas accounts for 40 billion cubic meters, and the rest is supplied by Uzbekistan and Kazakhstan. The contract with China's CNPC was signed in 2013, under which the state-owned company will supply over 300 million tons of oil over 25 years. The terms include partial prepayment. In 2025, the estimated payment is $12 billion, in yuan, not dollars. At the September exchange rate, this is approximately one trillion rubles.
Novatek owns a 50.1% stake in Yamal LNG. France’s TotalEnergies and China National Petroleum Corp each control 20%, while China’s Silk Road Fund owns 9.9%.
Pakistan refiner Cnergyico has imported the country's first private-sector shipment of Russian crude oil.
Expecting highest import level in 2 years
Have a representative office of "CCC Corporation" in Russia (Moscow).
During the covered period, Concept Oil Services Ltd. processed just over 152,000 barrels of Russian oil per day.
Coral Energy DMCC bought 121,000 barrels a day of Russian crude in the final four weeks of December from Surgutneftegas PJSC.
The company is included in the sanction list of the US Treasury. Hong Kong-based Covart Energy Limited (Covart) has sharply increased its share of the trade of Russian oil since the price cap policy was implemented. Since May 2023, vessels chartered by Covart have made at least 23 port calls in Russia. Covart also owns a Russia-flagged vessel, the Sanar 15.
The Director General of the Russian company Rosatom, Alexey Likhachev, said that sanctions are an obstacle to the construction of the first nuclear power plant in Egypt, “but they will not stop us.” The Dabaa nuclear power plant will have four identical sections, called power units. Each of these units can produce 1,200 megawatts of electricity. The plant will use Russian-made VVER-1200 generation III+ pressurized water reactors.
The U.S. Treasury Department's Office of Foreign Assets Control has imposed sanctions on five entities and two entities based in Iran, China, Hong Kong, Turkey, and the United Arab Emirates. irats that are accountable to the transnational measure of drone proliferation in Iran.
The Greek state gas company DEPA Emporias is discussing prices and terms of supply for Russian natural gas in 2024 with Gazprom, according to the Minister of Environment and Energy, Theodoros Skilakakis.
Since February 24 the company has not commented on the exit from the russian market, as well as its parent company Megha Engineering and Infrastructures Limited (MEIL) and continues to sponsor the war in Ukraine.
Suspended Moscow office. French EDF purchased 153 tons of enriched uranium from Russia for its nuclear power plants in 2022.
Russia took second place in terms of liquefied natural gas (LNG) supplies to Spain in the period from January to December 2024. This is evidenced by data published by the Spanish energy company Enagás. According to its information, over 12 months, the kingdom purchased the equivalent of 72,360 GWh of LNG from Russia (21.3% of the total). As a result, Russia took second place after Algeria in terms of supplies of this fuel to Spain. The United States is in third place. In December last year, Madrid purchased 5,485 GWh of gas from Moscow - 20.8% of the total. Earlier, Enagás reported that in 2023, Spain purchased 72,690 GWh of Russian LNG, compared to 53,859 GWh in 2022. Thus, by the end of 2023, the Russian Federation became the third main supplier of gas to the kingdom.
Fossil Trading has a direct connection with "Rosneft," particularly through its ownership of Energopole SA, which was established in 2020 after Rosneft Trading came under sanctions due to trading Venezuelan oil.
UK refinery owner extends credit facility with arm of oil firm part-owned by Russian who is under sanctions. Stanlow operator Essar stopped all imports of Russian fuel in 2022 but has arrangement with Litasco. The Stanlow refinery is owned and operated by British company Essar Oil. Essar Oil UK is part of India’s Essar Group. In 2022, after a series of protests by unionized dock workers who refused to unload Russian oil, the company stopped all imports of Russian fuel. But according to The Guardian, the company has provided a line of credit to Litasco, the oil trading arm of Moscow-based Lukoil, Russia’s second-largest oil company. Litasco itself is not subject to sanctions. According to financial statements, Essar Oil (UK) – part of the Essar Group, owned by the Indian billionaire Ruia brothers – has an “extended payment agreement” with Litasco worth $500 million (£393 million) for crude oil. We also know from open sources that Litasco has the ability to claim control over Stanlow Terminals Ltd. if financial obligations are not met, which creates a potential risk to control this critical infrastructure facility.
Zeebrugge's independent gas infrastructure operator, Fluxys, provides LNG storage and transshipment capacity to Yamal LNG, a joint venture controlled by the Russian gas company Novatek, which is reportedly directly involved in the financing of military aggression and war crimes. The National Agency of Ukraine for the Corruption Prevention (NAСP) included the Belgian independent operator of the Fluxys gas system in the list of international sponsors of the war. The reason was that the company promotes the export of Russian liquefied natural gas (LNG), which provides financing for the Russian invasion of Ukraine.
Fossil Trading has a direct connection with "Rosneft," particularly through its ownership of Energopole SA, which was established in 2020 after Rosneft Trading came under sanctions due to trading Venezuelan oil.
The French nuclear conglomerate Framatome has so far refused to end its cooperation with Rosatom. Paris approves the building of Russian-led nuclear reactors in Hungary. The French government has approved Framatome's participation in the construction of two new reactors at the Paks power plant, arguing that the nuclear industry is not affected by international sanctions against Russia. French nuclear company Framatome has signed a contract with Rosatom for the joint production of nuclear fuel for water-water power reactors (WWER or VVER).
A former unit of Russian energy giant Gazprom has resumed supplying LNG to Indian state gas utility GAIL a year after it halted supplies due to the Ukraine war, GAIL chairman Sandeep Kumar Gupta. GAIL (India) Ltd settled a USD 1.817 billion claim against former Gazprom unit, now SEFE, for USD 285 million. The settlement addressed LNG non-delivery under a long-term contract. Western sanctions on Russia affected supply. SEFE claimed force majeure but resumed partial deliveries by 2023.
Moscow and Tehran have struck a deal that would see the Islamic Republic selling 40 domestically produced gas turbines to Russia, Reza Noushadi, the CEO of Iranian Gas Engineering and Development Company.
An oil tanker company heavily involved in moving Russian oil lost industry standard insurance for its fleet after falling foul of a Group of Seven price cap relating to the transportation of the nation’s barrels. Lloyd's Register revokes the insurance of ships of the largest Indian carrier of Russian oil, Gatik Ship Management. Antwerp detains ‘dark fleet’ Gatik tanker after STS transfers with Greece-owned ships.
The subsidiary LLC Russian Representation GE.MI POWER SOLUTIONS LLC continues its activities
Still purchasing Russian gas from Gazprom
GREEN ENERGY SOLUTIONS PROJECT MANAGEMENT SERVICES SOLE PROPRIETORSHIP LLC (GREEN ENERGY SOLUTIONS) is a newly established engineering company based in Abu Dhabi, United Arab Emirates. GREEN ENERGY SOLUTIONS provides engineering services and technology, which were previously provided by European service companies, to Russia’s Arctic LNG 2 project.
According to data on Russian imports, the main beneficiaries were two companies from South Korea: SK Enmove and GS Caltex, a joint venture between the South Korean GS Group and the American energy giant Chevron.
Two sanctioned Russian oligarchs have become co-owners of Britain's biggest oil producer after it completed a deal to buy the German company. LetterOne, an investment company partly owned by oligarchs Mykhailo Fridman and Petr Aven, now owns almost 15% of Harbor Energy. Harbor Energy is the largest producer of oil and gas in UK waters. It bought most of the oil and gas assets of the German firm Wintershall DEA from the chemical giant BASF.
Made a rare purchase of 2 million barrels of Russian Urals crude for loading in May 2022. India’s state-owned refiner Hindustan Petroleum Corp Ltd is facing payment issues for its purchases of Russian crude oil due to a price cap imposed on exports from the OPEC+ producer.
Hiroshima Gas signed a contract with the new operator of the Sakhalin-2 Russian liquefied natural gas (LNG) production project for the supply of this LNG.
HPCL-Mittal Energy Ltd (HMEL), a joint venture with Hindustan Petroleum, has received at least four consignments of Russian crude oil between July and September 2025. These consignments arrived at the Guru Gobind Singh Refinery in Bathinda, Punjab.
Volumes of Indian imports of crude oil are reaching record levels. HPCL-Mittal is one of the TOP importers.
Murad Bayar, CEO of IC Holding, stated that Russia is an important and permanent market for his company. Bayar highlighted the group's long-standing relationship with Russia, exemplified by their role as prime contractor for the Akkuyu nuclear power plant (NPP). In addition, he noted that negotiations are ongoing regarding investments in the region's infrastructure.
Signed new deal to import Russian oil but has paused spot purchases of Russian shipments that will arrive after the Dec 5, 2023 deadline. Russia's largest oil producer Rosneft (ROSN.MM) and India's top refiner Indian Oil Corp have signed a term agreement to substantially increase oil supplies and diversify oil grades delivered to India. Rosneft and Indian Oil Corp have yet to renew an oil supply deal that expired in March 2024 after they failed to agree on price and volumes, forcing India's top refiner to return to spot markets. IOC and Rosneft could still sign the deal if they can agree on terms, but in the meantime the Indian firm will buy Russian oil on spot markets. India's largest oil refiner and fuel retailer, IndianOil, said it would comply with international sanctions, without citing the latest US restrictions on Rosneft and Lukoil, Russia's two largest crude oil exporters.
Indústrias Nucleares do Brasil – INB signed a contract with Internexco GmbH, part of the Rosatom group, from Russia, for the temporary export for processing abroad of up to 275 thousand kg of uranium concentrate (U3O8) produced at the Uranium Concentration Unit in Caetité, Bahia, for carrying out two stages of processing abroad: conversion and enrichment.
ITER is an international collaboration based in the south of France, with Europe contributing almost half of the cost, with the rest shared equally by China, India, Japan, the Republic of Korea, the Russian Federation and the United States. In May, three members of the centre-right European People’s Party asked what the European Commission planned to do to end Russia’s participation in ITER, noting that the bloc’s recent plan to end its dependence on Russia for nuclear energy (as well as fossil fuels) “is silent on fusion energy.” Moscow cannot be excluded from Europe’s flagship fusion project, EU Energy Commissioner Dan Jorgensen confirmed in response to concerns raised by members of the European Parliament.
The consortium consisting of Mitsui & Co and the Japanese national oil and metals company JOGMEC retained a ten percent stake in the Novatek Arctic LNG-2 project. With the only clarification that since March of last year, Japan has frozen new investments in this project due to financial sanctions.
Japanese trading company Mitsui & Co (Mitsui) has announced that it will invest in the operating company of Russia’s Arctic LNG 2 project. The investment will be made through Japan Arctic LNG B.V (J-Arc), a Dutch corporation 75% owned by Japan Organisation for Metals and Energy Security (JOGMEC) and 25% owned by Mitsui.
Signed a deal with thenew operator of the Sakhalin-2 energy project in Russia to maintain long-term deliveries of liquefied natural gas (LNG)
The Kazakhstan Atomic Energy Agency, with the participation of international experts, has completed work on determining the leader of the consortium for the construction of Kazakhstan's first nuclear power plant. The Russian State Atomic Energy Corporation Rosatom has been selected to lead the international consortium for the construction of Kazakhstan's first nuclear power plant.
Kazakhstan will buy tankers to transport oil around Russia. The national operator of Kazakhstan, KazTransOil JSC, announced an increase in tariffs for pumping Russian oil.
The national operator of Kazakhstan, KazTransOil JSC, announced an increase in tariffs for pumping Russian oil.
LNG imports from Russia are 2 million tons per year. The company did not declare a refusal to import LNG from Russia. However, KOGAS says it has no direct dealings with Russia, as its purchase contract is with Sakhalin Energy and gas payments are coming to a Japanese bank in Singapore.
According to LSEG and a trader, on October 6, 2025 the tanker Kayseri delivered 105,340 metric tons of Siberian Light crude oil from the Russian Black Sea port of Novorossiysk to the Kulevi oil terminal.
Will not buy Russian coal this year, which is used as fuel for thermal power plants.
Owns ISAB that buys Russian oil. Russia's Lukoil has purchased 25 old tankers for its "shadow fleet" through a 74-year-old British accountant. All purchases were financed by Dubai-based Eiger Shipping DMCC, which is owned by Litasco Middle East DMCC, the Middle East subsidiary of Litasco, Lukoil's oil trading division. Eiger provided the money in advance, chartering the vessels in advance, which were being prepared for purchase.
No statements released. They and parent company operate in defence, communications and energy sectors https://www.elementsolutionsinc.com/
Maharashtra has signed a memorandum of understanding (MoU) with Russia's state-owned company ROSATOM to develop a small modular reactor based on thorium fuel.
Volumes of Indian imports of crude oil are reaching record levels. Mangalore Refinery is one of the TOP importers.
Iran's MAPNA has delivered its first MGT-70 advanced gas turbine to Russia as part of an agreement signed in 2022 to export 40 such units.
M&M itself stated that it ceased trading in Russian-origin petroleum products in February, and the company's financial director, Sergey Geller, who previously headed the company's division in Russia, left his position at the end of July.The U.S. Department of the Treasury is examining the activities of Mercantile & Maritime in an effort to determine whether it is trading Russian oil in violation of Western sanctions.
The Czech Republic announced that the share of Russian oil imports through the Druzhba oil pipeline has reached its peak since 2012. This was reported by the press secretary of the state company Mero, Barbora Putsova, in a comment for ČTK. According to her, in the first half of 2023, the country imported 65% of oil through the aforementioned Russian oil pipeline, while the corresponding indicator last year was 56%.
The Pridnestrovian Moldavian Republic (PMR) has begun receiving gas purchased with Russia's help. The fuel was supplied by the Hungarian company MET Gas and Energy Marketing AG.
Petroleum products that originated in Russia kept flowing to the Motor Oil Hellas refinery on the Aegean Sea in Greece, a Washington Post examination of shipping and trade data found. They just took a new route, hundreds of miles out of the way through an oil storage facility in Turkey, a journey that obscured Russia’s imprint as ownership of the products changed hands multiple times before they reached Greece.
Amtek is a distributor for Motul east of the Moscow region. They list an extensive network of retail outlets selling Motul products and also offer businesses the chance to sell Motul products on their website.
Buys discounted 1 million barrels of Russian oil. Indian state refiners pause Russian oil purchases.
The company has not announced plans to stop buying Russian gas. On October 10, 2024 the Hungarian state energy company MVM and Gazprom signed an agreement on continued cooperation in the energy sector.
Iran and Russia have reached certain agreements on the creation of an energy hub, negotiations on this issue are ongoing - Iranian Deputy Oil Minister and CEO of the National Iranian Gas Company.
National Iranian Oil Company (NIOC) and Russia’s Gazprom Company agreed to strengthen cooperation in relevant fields. The National Iranian Oil Company (NIOC) and Tatneft signed a $700 million contract in Tehran to develop the Zage heavy oil field in southwestern Iran.
Partnership with Gazprom Neft; Gazprom has a 50% stake in NIS. Serbia expects US sanctions against local Gazprom Neft structure Serbian NIS, where 56.15% is owned by Russian companies, may fall under US sanctions as early as January 1, 2025, said the country's President Aleksandar Vucic. In 2022, the company's main shareholder, Gazprom (MOEX: GAZP) Neft, reduced its stake to avoid restrictive measures, and so Gazprom appeared in NIS's capital. Now Belgrade is talking about the need for a new reduction in the package. The most likely contender for the stake is the Serbian authorities, analysts believe. The United States has postponed sanctions against Russian-owned Serbian oil company NIS for the fifth and final time. The postponement will last for one month and will not be extended further, the energy minister said in a statement. Serbian oil company NIS announced the entry into force of US sanctions. In an official statement, the company noted that it has not yet received a special license from the US Treasury Department, which is necessary for uninterrupted operations.
State-owned NLC India is in talks with a Russian-backed entity to secure lithium supplies from its mine in Africa, a key step in securing critical minerals for India’s energy transition.
Trafigura said in a statement on Wednesday 13/07/2022 that its 10 per cent stake in Vostok Oil, a gargantuan Arctic development backed by Russian president Vladimir Putin, had been sold to “an independent Hong Kong registered trading company”, Nord Axis Limited.
India, Russia sign deal on power generating units in Tamil Nadu's nuclear power plant.
Indian Oil and Natural Gas Corp's (ONGC) exec expects Russia to make up 30% of company's imports this year. Singh said that there is no sanction on Russian oil and unless the government decides otherwise, ONGC group refiners Hindustan Petroleum Corporation (HPCL) and Mangalore Refinery and Petrochemicals (MRPL)–are free to buy crude from Russia.
Oil India Ltd (OIL) has appointed legal and tax consultants to explore ways to repatriate its $150 million in dividend stuck in Russia. State-owned Oil India Limited has been unable to transfer $300 million in dividends from its investments in Russian oil companies recently hit by US sanctions.
However, the marine traffic data that tovima.com published show that Okeanis also transported in 2023 and 2024 Russian oil under the price cap: from Novorossiysk, Primorsk, Murmansk, Kozmino and Ust-Luga.
Aggressive selling of Russian Sokoil to other Indian Nationalised Energy corps. Singh said that there is no sanction on Russian oil and unless the government decides otherwise, ONGC group refiners Hindustan Petroleum Corporation (HPCL) and Mangalore Refinery and Petrochemicals (MRPL)–are free to buy crude from Russia.
Considering purchasing additional stakes in Russian oil and gasoline fields. State-run companies such as ONGC Videsh Ltd have stakes in Russian oil and gas fields. But dividends from those assets are stuck because of a logjam in Russia’s banking channels and the country’s inability to pay in dollars amid US and EU sanctions. India's ONGC willing to wait to regain oil from Russian project. ONGC Videsh has since regained its 20% stake in the project and is in talks with Russian government officials and company shareholders to resume taking oil under a production-sharing arrangement. ONGC Videsh Ltd is seeking legal counsel after the US imposed sanctions on a Russian oilfield where Indian companies collectively hold a 49.9% stake. While Indian stakes are below the 50% threshold for direct sanctions, OVL aims to ensure compliance with OFAC regulations. The move highlights the challenges for Indian firms navigating Western sanctions while pursuing energy interests in Russia.
Sakhalin-2, PRIME notes, also has other long-term contracts. In particular, with the Japanese Tohoku Electric, Osaka Gas, Saibu Gas, the South Korean Kogas, the Taiwanese CPC, the former Gazprom structure Gazprom Global LNG, which fell under countersanctions of the Russian Federation.
The UK government sanctioned an energy trader linked to Russian oil-trading as it seeks to tighten its measures designed to stop cash flowing to Moscow. In a sweeping set of measures that also included Russia’s gold sectors, the UK said it sanctioned Paramount Energy & Commodities DMCC.
Imports of Russian oil and fuel products banned. On April 28, 2022 PBF Energy warned that a shortage of feedstocks it and others have been importing from Russia could limit refining capabilities. An American refinery imported 10,000 barrels of Russian oil through a storage terminal in the Bahamas.
Egypt’s Petrojet company signed a $100 million coast protection deal for the El-Dabaa nuclear plant with the Russian Federation's nuclear power equipment and service exporter Atomstroyexport, the Ministry of Petroleum and Mineral Resources announced on Wednesday, September 11, 2024.
Venezuela's state-owned oil company PDVSA has received and is unloading a Russia-origin 700,000-barrel cargo of heavy naphtha, a key product for its heavy crude output, according to vessel tracking data and a shipping document seen by Reuters. US-sanctioned PDVSA needs imported light crude, condensate and naphtha to dilute its production of heavy oil and make it exportable. Russia and Iran, which are also under US sanctions, have provided the country with those products in the past.
State-owned Petrovietnam is entering into a production sharing agreement (PSA) with Kharyaga in Russia, which was previously exited by French giant TotalEnergies and Norwegian Equinor as part of a larger exodus of Western companies following Russia's war in Ukraine.
Owns a stake in Miro refinery that uses Russian oil
The company has not announced any plans to stop using russian gas.
The gas company Qazaq Gaz offered Gazprom to consider the possibility of creating a new transit gas pipeline along the route from Russia to China, which could also be used in the gasification of the east of the republic. After months of Kremlin political pressure, Russian giant Gazprom finally signs first Central Asia deal. To enable Uzbek gas deliveries, Gazprom has also signed a transit agreement with Kazakhstan’s state gas pipeline operator, QazaqGaz, the Kazakh company said.
The third-largest trader is Dubai-based QR Trading DMCC, which bought 199,000 barrels a day from Surgutneftegas.
Intention to avoid Russian fuel import (not verified). Buying Russian fuel. According to the analytical company, over the past two months, the largest buyers of Russian oil were the Indian state company Indian Oil Corp. and the country's largest holding Reliance Industries Ltd. India's Reliance refusing Sovcomflot oil shipments after sanctions, sources say. Billionaire Mukesh Ambani's Reliance Industries Ltd earned 724 million euros (about 6,850 crore rupees) in a year from exporting fuel made from Russian crude to the US, a report by a European think tank said. "From January 2024 to the end of January 2025, the US imported 2.8 billion euros of refined oil from six refineries in India and Turkey that process Russian oil. About 1.3 billion euros of this was processed from Russian oil," the report by the Centre for Research on Energy and Clean Air (CREA) said. US imports of fuel such as petrol and diesel from Jamnagar in Gujarat, where Reliance's twin refineries are located, were 2 billion euros. Of this, "€724 million (estimated) will be processed from Russian crude oil," the report said.
At this time, the company has not made any public statements regarding the shutdown in russia, and continues to pay taxes there, which finances russian aggression against Ukraine.
Sakhalin-2, PRIME notes, also has other long-term contracts. In particular, with the Japanese Tohoku Electric, Osaka Gas, Saibu Gas, the South Korean Kogas, the Taiwanese CPC, the former Gazprom structure Gazprom Global LNG, which fell under countersanctions of the Russian Federation.
The company owns Sakhalin 1 LNG. Russia approves Japan's SODECO participation in new Sakhalin 1 oil, gas project operator.