THE SHELL LEAKS FILES — 3 NOVEMBER 2026
SLF-2007-107
The Sakhalin Papers XCVII: Thirty Days to Decide — Putin’s Decree, Japan’s Acceptance and Shell’s Refusal
AN INDEPENDENT DOCUMENTARY INVESTIGATION
By the Donovan–Shell Archive
Researched and drafted with the assistance of ChatGPT, drawing upon authenticated corporate disclosures, official government measures, contemporaneous reporting and the historical Donovan–Shell Archive.
On 30 June 2022, President Vladimir Putin signed a decree that fundamentally altered the ownership arrangements of the Sakhalin II oil and liquefied natural gas project. Foreign shareholders were required to seek Russian government approval to obtain equivalent interests in a replacement operating company. Japan’s Mitsui and Mitsubishi accepted the new arrangements and received approval. Shell refused, formally objecting to the transfer of the original operator’s assets and rights. But the decree contained another potentially consequential provision: Russia could investigate alleged damage caused by foreign shareholders and deduct compensation from the proceeds of their unclaimed interests. The authenticated documents reveal how a decision ostensibly about corporate restructuring became a mechanism through which the Russian state controlled continued participation, asset disposal and the treatment of sale proceeds.
