Sanctions for All—Except Big Oil?, ExxonMobil’s Russia Move Exposes U.S. Double Standards

After its 2022 exit from Russia following the Ukraine invasion, the largest US energy company, ExxonMobil, is now reportedly exploring a return to the Sakhalin-1 oil and gas project. The company has held discreet talks with Rosneft, Russia’s state energy giant, and is seeking support from the U.S. government to re-enter the market. This comes after Moscow blocked Exxon’s attempt to sell its stake and effectively wiped out its $4 billion investment.

According to an exclusive Wall Street Journal report, ExxonMobil’s Senior Vice President Neil Chapman has held confidential negotiations with Rosneft CEO Igor Sechin—despite Sechin being under U.S. sanctions. The talks, reportedly held in Doha, center on Exxon’s potential return to the Sakhalin-1 oil and gas project, which it exited in 2022 after Russia’s invasion of Ukraine.

The Exxon reentry hinges on a broader diplomatic thaw: both Washington and Moscow would need to approve the move as part of a potential peace process in Ukraine. This adds a layer of strategic complexity—Exxon’s return could be framed not just as economic recovery, but as a geopolitical olive branch.

The Political Undercurrent

The timing is striking. These developments surfaced shortly after a summit in Alaska between Donald Trump and Vladimir Putin, where both leaders expressed openness to renewed business ties. A Russian decree now allows foreign companies to regain ownership in Sakhalin-1, provided they meet certain conditions—like supplying equipment and advocating for sanctions relief.

Double Standards? Many Think So

While India faces steep tariffs for importing Russian oil, the U.S. appears to be quietly facilitating its own energy giant’s re-entry into the Russian market. Critics argue this reflects a selective application of sanctions and a willingness to bend principles when strategic interests are at stake.

India’s Unequal Treatment

Meanwhile, India continues to face tariffs and scrutiny for importing Russian oil, despite its purchases being transparent and essential for domestic energy needs. The contrast is stark: while India is penalized, the largest U.S. energy company is quietly negotiating a comeback under the guise of diplomacy.

This isn’t just about oil—it’s about who gets to bend the rules. ExxonMobil’s potential return, facilitated by U.S. Treasury licenses and quiet political support, exposes a selective enforcement of sanctions that many in the Global South have long criticized.