Three days after The New York Times (NYT) and the Financial Times (FT) published a former CEO’s account of Russian money behind an Alaska gas startup, no public Novatek investigation had been announced by any U.S. agency or congressional committee as of Oct. 26. The former chief executive, Joel Riddle, told the NYT that he and two other departing executives had asked Trump administration officials to look into it.
Where it stands: Business Standard, summarizing the FT, wrote that “No US authority has publicly established that the alleged financing constituted a sanctions violation.” A Treasury official, speaking to the FT, declined to address the claims but said the department takes “potential violations extremely seriously.” In the coverage and official press pages reviewed for this article, no lawmaker letter or statement about Polar LNG or Novatek had been found.
The companies reject the premise. Polar LNG says Riddle was terminated for cause, calls him a “disgruntled former employee,” and told the FT its work is being done “in full compliance with applicable US laws.” Novatek said a project of this size needs approvals from both governments and rejected any link to sanctions relief. Abu Dhabi-based Tech Wave, which sits above Polar LNG, says Novatek has no equity in it. Per the Times, there was no sign that the envoys Steve Witkoff and Jared Kushner knew about the startup’s ties to Novatek.
Who could open a Novatek investigation
Three parts of the government have tools that fit these allegations. Each works differently, and none had publicly used them on this matter as of Oct. 26.
| Who | What it can do | Public action as of Oct. 26 |
|---|---|---|
| Treasury (OFAC) | Civil enforcement, license decisions | None announced; license request pending |
| Justice Department | Criminal cases, often after an OFAC referral | None reported |
| Congress | Letters, hearings, subpoenas | No letter or statement found |
| Energy Department | Received the executives’ warning | Did not answer the NYT |
Treasury and OFAC: the civil track
The Office of Foreign Assets Control is the agency most directly involved, for two reasons. Polar LNG has asked it for a license; ThePrint, carrying a Bloomberg wire, reported that an application went to OFAC “for a license to purchase an unfinished gravity-based structure” from Novatek. And according to the NYT, legal memos from Baker Botts that Riddle included with his resignation said enforcers at Treasury had flagged “potential Russia-related sanctions concerns.” A separate memo, the Daily Beast reported from the Times story, said federal officials worried that a Polar LNG investor with Novatek links might be acting for the Russian company.
That is not the same as an open case. OFAC’s published enforcement guidelines describe a range of outcomes, from no action and cautionary letters to a formal Finding of Violation or a civil penalty. Before any finding becomes final, the guidelines say the company gets “an opportunity to respond to OFAC’s determination that a violation has occurred.” OFAC’s public 2026 enforcement chart, checked Oct. 26, listed its latest posted action on Oct. 13, against Bank of America, N.A.; nothing in it involved Polar LNG, Tech Wave or Novatek. How the license process works is covered in our explainer on the Polar LNG OFAC license request.
The Justice Department: the criminal track
Criminal sanctions cases are prosecuted by the Justice Department, and OFAC can hand matters over. Its guidelines state: “In appropriate circumstances, OFAC may refer the matter to appropriate law enforcement agencies for criminal investigation and/or prosecution.” They add that a referred case can still draw a civil penalty from OFAC. As of Oct. 26, no outlet reviewed had reported any referral, grand jury activity or Justice Department statement about Polar LNG. Riddle has called the arrangement unlawful in his NYT interview; that is his view, and the company denies wrongdoing.
Congress: quiet so far
We searched news coverage and checked the press-release pages of the Democratic and Republican sides of the House Foreign Affairs Committee, the Democratic side of Senate Foreign Relations, Sen. Lisa Murkowski and Rep. Nick Begich on Oct. 26. None listed anything on Polar LNG or Novatek. The pages of the Senate Banking Committee minority and Sen. Dan Sullivan could not be loaded, so we cannot rule out statements there.
The silence stands out because the same offices have been active on Russia. House Foreign Affairs Democrats issued a “Meeks Statement on Trump Waiving Russia Sanctions” and, on Oct. 23, a release demanding answers from Elon Musk on Starlink. Foreign Relations Democrats sent SpaceX a similar demand. Murkowski joined colleagues urging Trump to reverse the Russian diesel deal. In September, Foreign Affairs Chairman Brian Mast co-signed a letter to Marco Rubio and Scott Bessent “asking them to investigate” scam networks for possible sanctions, the kind of request that could be sent on Polar LNG. On the Graham Act waiver, ABC reported that Sen. John Cornyn “shared a National Review article calling for Congress to investigate the decision.” Our article on Sullivan and the sanctions waiver tracks what Alaska’s delegation has said.
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The Energy Department warning
The one documented outreach to the government came from the executives themselves. Riddle told the NYT they alerted administration officials as they left and urged an inquiry. The Times wrote that “The Energy Department, where the warning was sent, did not respond when asked about the matter.” Riddle said, “I felt like I did the right thing to notify authorities at the appropriate time.” No later response from the department had been reported by Oct. 26. Riddle’s full account is in our profile of Joel Riddle.
Polar LNG’s threatened litigation
The only legal action anyone has openly raised points the other way. In its statement announcing the leadership change, quoted by Reporting From Alaska, Polar LNG said: “The company is investigating claims concerning Riddle that may result in litigation.” That line appears in Polar LNG’s own statement; the FT and NYT excerpts reviewed did not describe any suit as filed. Neither side had gone to court, in any report we found, by Oct. 26. Polar LNG appointed Tim Talkington acting chief executive.
Frequently Asked Questions
Is there an investigation into Polar LNG or Novatek?
As of October 26, no U.S. agency or congressional committee had publicly announced one. Former executives say they asked administration officials to investigate, and Treasury says it takes potential sanctions violations seriously but does not comment on allegations.
Who enforces U.S. sanctions on Russian companies?
Treasury’s sanctions office, OFAC, handles civil enforcement and licenses. Its guidelines allow it to refer cases to law enforcement for criminal investigation, which the Justice Department prosecutes.
Have any members of Congress asked for a probe of Polar LNG?
None were found in the coverage and official press pages reviewed as of October 26. Lawmakers have recently sent letters on the Russian diesel deal, the Graham Act waiver and Starlink.
Did the Energy Department respond to the Polar LNG warning?
The New York Times reported that the Energy Department, where the executives sent their warning, did not respond to its questions. No later response had been reported.
Is Polar LNG suing Joel Riddle?
The company has said it is investigating claims about Riddle that may result in litigation. No filed lawsuit had been reported by October 26.
Sources
- Whistleblower CEO quits over hidden Russian cash behind gas deal in Trump peace talks: NYT — Raw Story (summarizing The New York Times), October 24, 2026
- Former CEO: Russian Firm Backed Alaska Gas Venture — Newsmax via Yahoo News, October 24, 2026
- Russia secretly backed Alaska LNG shipping scheme (quoting The New York Times and Polar LNG) — Reporting From Alaska (Dermot Cole), October 25, 2026
- Secret Russian Funding Revealed in Trump-Putin Energy Scheme — The Daily Beast via Yahoo News (citing The New York Times), October 24, 2026
- Alaska LNG export terminal got funding from Russia’s sanctioned Novatek before US nod—FT report — ThePrint (Bloomberg wire), October 24, 2026
- Top executives quit $25 bn US gas project over alleged Russian control — Business Standard (citing the Financial Times), October 25, 2026
- Appendix A to Part 501: Economic Sanctions Enforcement Guidelines — eCFR (31 CFR Part 501), accessed October 26, 2026
- Civil Penalties and Enforcement Information — U.S. Treasury, Office of Foreign Assets Control, accessed October 26, 2026
- Press Releases — House Foreign Affairs Committee Democrats, accessed October 26, 2026
- Press Releases — House Foreign Affairs Committee (majority), accessed October 26, 2026
- Ranking Member Press Releases — Senate Foreign Relations Committee (minority), accessed October 26, 2026
- Press Releases — Office of Sen. Lisa Murkowski, accessed October 26, 2026
- Press Releases — Office of Rep. Nick Begich, accessed October 26, 2026
- Trump signs order waiving Graham Act sanctions on Russia, drawing backlash from some lawmakers and Zelenskyy — ABC News, October 17, 2026
This article is news reporting and analysis based on the public sources listed above, as they stood on the dates shown. Where officials, lawmakers or analysts disagree, including on whether an action is lawful, their positions are attributed to them; Donald Trump Class Action is not a court and nothing here is legal advice. Facts in a developing story can change.