Russian President Vladimir Putin said last week that Moscow had received an interesting offer from the US for joint work in the Arctic and is ready to cooperate. His comments came amid reported discussions about Exxon Mobil’s possible return to the Sakhalin-1 project in Russia’s Far East. While Exxon has declined to comment, it is thought that the US supermajor could be interested in returning, but only if it has legal cover. Putin noted that for any joint ventures to materialize, a political decision would be needed in Washington. US President Donald Trump has been restrained in imposing new sanctions on Russia. But it’s doubtful he would forge any economic deals without progress in resolving the Ukraine conflict.