Good morning. Putin swoops on key gas plant, travel chaos widens, a milestone in crypto rules and a royal subsidy. Here’s what people are talking about.
President Vladimir Putin signed a decree to transfer rights to the Sakhalin-2 natural gas project to a new Russian company, a move that could force foreign owners including Shell to abandon their investment in the facility. The decree cites threats to Russia’s national interests and economic security. The move could prove complicated for Shell, which holds a 27.5% stake in the liquefied natural gas facility in Russia’s far east. The energy giant announced it would exit the project after Russia invaded Ukraine and that it wouldn’t commit to any new investments in the country. In other war-related developments, Ukrainian President Volodymyr Zelenskiy praised the departure of Russian forces from Snake Island in the Black Sea. Ukraine, meanwhile, is exploring the possibility of debt restructuring with funding options at risk of running out.