Home World ExxonMobil joins business exodus from Russia after decades of close ties

ExxonMobil joins business exodus from Russia after decades of close ties

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The Molikpaq offshore oil platform stands off Sakhalin island in far eastern Russia in 2003. Exxon has operated the project since 1995, but announced it is "developing steps to exit" the venture in the wake of Russia

The American oil and gas giant is “beginning the process to discontinue operations” at the Sakhalin-1 project off Russia’s eastern coast. The company also says it won’t make new investments in Russia.

(Image credit: Ursula Hyzy/AFP via Getty Images)

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