EBRD Caves in to Shell on Sakhalin

(Pacific Environment, San Francisco, 19 December 2005) In a stunning reversal of institutional integrity, the European Bank for Reconstruction (EBRD) declared the scandal-ridden Sakhalin II oil and gas project Environmental Impact Assessment (EIA) “fit for purpose.” This decision comes despite 3 years of EBRD insistance that the project is “unfit for purpose”, because it doesn't comply with its environmental policies, and while the environmental impacts on the ground have worsened. NGOs are outraged, while the Export Credit Agencies of the U.S., UK and Japan now consider the controversial project for support.