Russia Proposes Opening Shelf Development to Private Firms for Resource Sovereignty

Russia's Ministry of Natural Resources (Minprirody) has proposed amendments to the Subsoil Law to allow private Russian companies access to offshore shelf and adjacent federal subsoil areas, aiming to bolster resource sovereignty. The move signals a potential shift from state-dominated offshore development, but details on licensing and foreign participation remain unclear. This could expand Russia's energy resource base amid Western sanctions.