Reuters: US offered Russia energy deals as incentive to push Kremlin towards peace in Ukraine
Reuters, citing sources, has reported that during peace negotiations this month aimed at ending the war in Ukraine, US and Russian government representatives discussed several energy deals – and that following the Alaska summit, the White House had intended to announce a major investment agreement.
Informed Reuters sources noted that these deals were proposed as incentives to encourage the Kremlin to agree to peace in Ukraine, while Washington would ease sanctions against Russia.
Three sources said officials discussed the possibility of Exxon Mobil returning to Russia’s oil and gas project Sakhalin-1.
The sources also noted that the issue of Russia purchasing American equipment for its liquefied natural gas projects was raised, including Arctic LNG-2, which is under Western sanctions.
Another idea considered was that the US might buy nuclear icebreakers from Russia.
The talks took place during US envoy Steve Witkoff’s visit to Moscow earlier this month, when he met with Russian leader Vladimir Putin and his investment envoy Kirill Dmitriev, three sources said.
One source added that the deals were also briefly discussed at the Alaska summit on 15 August.
"The White House really wanted to put out a headline after the Alaska summit, announcing a big investment deal," said one of the sources. "This is how Trump feels like he’s achieved something."
On the same day the Alaska summit took place, Putin signed a decree that could allow foreign investors, including Exxon Mobil, to regain stakes in the Sakhalin-1 project. This depends on whether foreign shareholders take steps to support the lifting of Western sanctions against Russia.
Exxon exited its Russian business in 2022 after Russia’s full-scale invasion of Ukraine, incurring losses of US$4.6 billion. Its 30% stake in the Sakhalin-1 project in Russia’s Far East was confiscated by Moscow the same year.
The US has imposed multiple rounds of sanctions against Russia’s Arctic LNG-2 project since 2022, cutting off access to ice-class vessels, which are essential for operating in the region for most of the year.
One source said Washington is seeking to push Russia towards purchasing American technology rather than Chinese, as part of a broader strategy aimed at distancing Moscow from Beijing and weakening their ties.
On 21 August, US President Donald Trump stated that he would be able to assess the possibility of achieving peace in Ukraine "within two weeks".
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