WATCHING THE WORLD: A softer tone on Sakhalin-2

No one would actually accuse Russia of backtracking, but last week its minister of natural resources said his country had no intention of removing an operating license from Royal Dutch Shell PLC for the Sakhalin-2 development project.To be sure, Yuri Trutnev said his ministry would conduct a fresh investigation of Shell’s compliance with environmental regulations. But he played down concerns that the undertaking would halt the project.“There is no question of removing the license because of the result of the investigation,” Trutnev said. “The inspection should only examine whether the operator is abiding by environmental protection legislation, not the other aspect...

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