ExxonMobil has quietly signed a non-binding agreement with Russia’s state-run Rosneft that could open the door to recovering billions lost when it exited the Sakhalin-1 project after Moscow’s invasion of Ukraine. At the time, Exxon declared force majeure on Sakhalin-1, where it had held a 30% operator stake, and pledged no new investments in Russia. Today’s agreement suggests Exxon and Rosneft are exploring a path back, even as Western sanctions still target the Russian oil giant and its chief, Igor Sechin. Exxon CEO Darren Woods acknowledged ongoing discussions last week, confirming they center on recouping losses but offering no details. The company is still shut out of Russian production, but the agreement signals it has not given up on recovering its stranded billions from Sakhalin-1.