Tokyo-Environmental organizations today condemned the Japan Bank for International Cooperation (JBIC) and four private banks' June 16 decision to provide approximately 5.3 billion dollars in financing for the problematic Sakhalin II oil and gas project in the Russian Far East.[1] JBIC (the Japan government's official export credit agency), Bank of Tokyo-Mitsubishi UFJ (Japan), Mizuho Corporate Bank Ltd (Japan), Sumitomo Mitsui Bank Corp (Japan) and BNP Paribas (France) have severely violated their environmental policies by financing Sakhalin II, according to the groups.

RUSSIA- Celebrate this victory with environmentalists and indigenous peoples of Sakhalin Island in Russia’s Far East: After four years of trying, the Sakhalin Energy company has withdrawn its loan applications from US, UK and European development banks, because it has not met the banks’ environmental requirements.

MOSCOW - Russia plans to start new checks on the Exxon Mobil-led Sakhalin-1 oil and gas project at the end of March, an environmental watchdog official said on Thursday.

Oleg Mitvol, deputy head of the Russian environmental agency RosPrirodNadzor, said the examination of the scheme on the Pacific island of Sakhalin would focus on how Exxon and its partners fulfil their environmental obligations.

Environmental groups are withholding judgment on the deal struck Thursday between Shell and Russia in which the government-controlled Gazprom apparently acquires a majority stake in the problem-plagued Sakhalin II oil and gas project.[1]

Russia has ordered a full environmental probe of Royal Dutch Shell's US billion Sakhalin-2 oil and gas development in Russia's Far East

Shell has already spent upwards of US billion on Sakhalin-2, due to start up in 2008. Much of the initial production has found customers in the United States and Japan.

Until August, the company said it had worked in step with Russian regulators to fulfil all necessary regulations.

Celebrate this victory in a campaign we launched in January 2004!

Thanks to all who have written letters to the Russian government and to the Sakhalin II oil project's potential financial backers. With this week's decision, the Russian government has taken an important step to put some teeth into corporate accountability and to protect Sakhalin's fragile wild salmon habitat.

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Russia Revokes Permit for Sakhalin Energy Project

MOSCOW (AP) -- Russia's environmental regulator said Tuesday it had filed suit seeking to revoke approval for a billion international oil project led by Royal Dutch Shell on the Pacific island of Sakhalin.

The Federal Service for the Supervision of Natural Resources had signaled for several weeks that it planned to ask the Natural Resources Ministry to withdraw its approval for the Sakhalin-2 project in Russia's Far East.

Environmental groups today welcomed the decision by the Russian Ministry of Natural Resources to sue to halt construction of the Royal Dutch Shell’s Sakhalin-II pipeline. The Russian Ministry of Natural Resources announced on August 3, 2006 that it will sue Shell’s Sakhalin II oil and gas project due to poor engineering that has resulted in land slides that are environmentally harmful and a safety hazard. Several independent environmental organizations have confirmed these findings.

Fresh photographs taken by Sakhalin Environment Watch from June 21-July 3, 2006 show continued severe erosion problems on Shell’s problem-plagued Sakhalin II oil and gas project on Russia’s Sakhalin Island. A photo report with written description can be found at: