Senior Executives Resign Over Alleged Russian Financing of $25 Billion Alaska LNG Project

Senior executives at Polar LNG, a U.S. energy company developing a $25 billion liquefied natural gas project in Alaska, resigned after discovering that sanctioned Russian energy giant Novatek was allegedly financing and influencing the venture without necessary U.S. government authorization.

Former CEO Joel Riddle resigned in September, followed by nearly the entire senior management team, after learning that Russian interests were allegedly directing company decisions.

The project, known as Polar Train, was intended to export American natural gas to Asian markets. However, internal correspondence reportedly revealed that Novatek executives were discussing financing the venture through a United Arab Emirates-based company, Tech Wave, while seeking to repurpose equipment originally intended for a sanctioned Russian LNG facility in Siberia.

The venture was initially associated with Gentry Beach, a longtime friend of Donald Trump Jr. and a former finance vice-chairman of Trump's 2017 inauguration. Riddle later alleged that Beach had neither invested in nor held an official position with the company.

According to reports, the proposed arrangement could have provided Novatek with American business opportunities and potential sanctions relief. Discussions involving Novatek reportedly reached President Trump's envoys, Steve Witkoff and Jared Kushner, during broader negotiations with Russian President Vladimir Putin over ending the war in Ukraine.

Polar LNG denies Riddle's allegations, maintains that its operations comply with U.S. law, and acknowledges seeking government authorization to use Russian equipment.

The central concern is whether a sanctioned Russian energy company was using an ostensibly American energy project to advance its commercial interests and potentially secure relief from sanctions imposed over Russia's actions in Ukraine. The allegations raise serious questions about transparency, foreign influence, and the intersection of private business interests and American foreign policy.

Source and attribution: Summary of reporting published by UNITED24 Media, drawing on investigations by the Financial Times (October 24, 2026) and The New York Times (October 23, 2026). The individual UNITED24 Media article author was not identified in the text provided.