Amid efforts to end the Ukraine war, US and Russian officials secretly discussed energy cooperation during multiple August meetings. Talks included possible American re-entry into Russian oil projects and easing sanctions in exchange for peace commitments. While Europe distances itself from Russian energy, the US appears to explore separate bilateral deals, partly to undercut growing China-Russia ties.

BulletsIn

• US, Russia discussed energy deals as part of Ukraine peace efforts in August
• Talks included possible return of Exxon to Sakhalin-1 oil & gas project
• US also floated idea to sell LNG equipment to Russian Arctic LNG 2 project
• Nuclear-powered icebreaker sales from Russia to US also considered
• Trump involved in discussions; wanted post-Alaska summit deal announcement
• Russia may allow foreign investors in Sakhalin-1 if sanctions support lifted
• Exxon left Sakhalin-1 in 2022 after war, took $4.6B hit; Kremlin seized its stake
• Arctic LNG 2 project resumed limited output under sanctions, seeks tech sources
• US aims to push Russia toward US tech over China, weakening Moscow-Beijing ties
• Trump also threatened more sanctions, tariffs on India to pressure Russia