Bloomberg reported that Russia is still selling liquefied natural gases from Sakhalin-2 in the Far East to China at half the price and still making profits, citing unnamed traders.
Russia is now in humiliation, unable to fix its tanks.
Putin’s attempt to take over industry brings the country back to its Soviet-era command economy.
Russia to take Sakhalin-1 project under its control
Russian lawmaker on Thursday said that Moscow would take control of Sakhalin-1, an oil and gas project.
Shell evaluates Russian decree to seize Sakhalin-2 LNG plant
Putin signed a decree to seize Shell’s Russian gas project rights. This could make it more difficult for the British energy giant Shell to invest in Russia.