Vladimir Putin abolished the production sharing agreement law in 2004.
Posted by The Pete Quiñones Show, Checked
- Sources
- 3 contradict1 context
- Said
- 1 time·
- Confidence
- 60%
The Pete Quiñones ShowOct 1, 2026
No source says Putin abolished the production sharing agreement law in 2004. The closest record is a late-2003 Duma action that rescinded legislation allowing foreign oil companies to sign new PSAs, and Putin signed a 2003 law that strengthened PSA tax rules. The claim's date, actor, and scope do not match the record.
What was said
… He ended up nationalizing the Yukos firm. Actually, I was writing his dissertation on so-called national champions. This was state-directed but not dictated investment, and these areas, again, like the auto industry. And then he abolished the law. This is in 2004, the production sharing agreement, and he signed years earlier that put natural resources under quote-unquote international jurisdiction. That means de facto, not de jure, BP and Exxon had tremendous control over not just oil but natural resources, and this increased his popularity. Russian oil was not benefiting Russians at all. …
The Pete Quiñones Show · · from the transcriptPost →What we found
Contradicts. A Kremlin record from June 2003 shows Putin signing a federal law that created special tax rules for contracts under the product sharing agreement law, which favours PSA investors rather than abolishing the law.[3]
Contradicts. fDi Intelligence reports that in late 2003 the Duma (not Putin) rescinded earlier legislation allowing foreign oil companies to sign new PSAs. This is a narrower restriction dated 2003, not an abolition of the PSA law in 2004.[2]
Contradicts. A State Department record describes PSA legislation adopted in 1999 and PSA tax amendments passed in mid-2003, and notes a January 2004 commission decision on the Sakhalin-3 tender. It does not describe the PSA law being abolished.[1]
Context. An unrated EBA document states that Russia's PSAs were still authorized under the Production Sharing Law of 1995, which suggests the core law was not abolished. Its date and reliability are weak.[4]
Context. The claimant's own passage is the only source for the abolition claim. It cannot corroborate the claim, and the sources above do not support it.
Sources
4 sources: 1 primary, 2 not rated, 1 rated low
- 1Russia2001-2009.state.gov · primary source · cited for: contradicts
- 2Russia pulls up the drawbridge - fDi Intelligencefdiintelligence.com · not rated · cited for: contradicts
- 3President Vladimir Putin signed a federal law regulating ...en.kremlin.ru · rated low for factual reporting by Iffy.news · cited for: contradicts
- 4THE RUSSIAN GAS INDUSTRY, ITS LEGAL STRUCTURE AND ITS ... - EBAeba-net.org · not rated · cited for: context
Where this claim was made
Said in 1 published post
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