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Energy Ministry Seeks Investment

Russia's Energy Ministry said Monday that the government was ready to support projects with foreign investment, Interfax news agency reported.

It added that the government would support oil exploration at the Kara Sea offshore Arctic field, where Russian state energy company Rosneft was working alongside U.S. oil giant ExxonMobil.

Earlier, Russian newspaper Kommersant said ExxonMobil was suspending cooperation at the field due to Western sanctions over Ukraine.

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