Russia's establishment of a law requiring oil and natural gas development projects to be conducted by Russian companies indicates the government of President Vladimir Putin is strengthening its stance on shutting out foreign firms.
On June 30, Russia issued a presidential decree that paved the way for the de facto seizure of the Sakhalin-2 oil and natural gas project in the Russian Far East, in which companies from Japan and other countries are involved.
The decree is seen as retaliation against Japan and other countries that imposed sanctions on Russia over its invasion of Ukraine.
