On Oct. 23 and 24, the FT and the NYT published an ex-CEO’s account that Novatek, the Russian gas producer, had quietly funded and steered Polar LNG, an Alaska export startup. Those reports sit at the end of a long chain of events. This Novatek timeline puts every documented step in order, from 2014 sanctions to the October 2026 denials, with the source for each row.
Where it stands: On Oct. 26 the status was unchanged; per Business Standard’s FT summary, “No US authority has publicly established that the alleged financing constituted a sanctions violation.” Polar LNG says it fired its former CEO for cause and is complying with U.S. law; Novatek and Tech Wave reject claims of hidden Russian control.
Each party’s position appears in the timeline itself. In brief: Polar LNG says “Development activities are being pursued in full compliance with applicable U.S. laws.” Novatek told the FT its interest is not tied to sanctions relief. Tech Wave, the Emirati parent, denies any Novatek ownership. A U.S. official said the plan had “only been broadly and briefly mentioned” to the administration. The NYT saw nothing suggesting that Steve Witkoff or Jared Kushner, the envoys, were aware of the Novatek connection, and a Trump Jr. spokesman said Trump Jr. and Gentry Beach are no longer close.
Before Alaska: Novatek and U.S. sanctions
The State Department recorded that “On September 12, 2014, Novatek was added to OFAC’s Sectoral Sanctions Identifications List pursuant to Directive 2 of E.O. 13662.” That listing restricts certain financing but does not block the company outright. In November 2023, State went further against Arctic LNG 2, Novatek’s Arctic export project, designating its operator. Those two facts explain why a deal with Novatek can need a license without being banned outright.
Novatek timeline: 2025, from Riyadh to the Beach deal
| Date | Event | Source |
|---|---|---|
| Feb. 18, 2025 | After U.S.-Russia talks in Riyadh, Kirill Dmitriev says the two sides discussed Arctic projects | High North News |
| Aug. 15, 2025 | Trump and Putin meet in Anchorage; one Reuters source says energy deals were briefly discussed | Reuters |
| Aug. 2025 | Reuters sources say officials raised Russian purchases of U.S. equipment for LNG projects such as Arctic LNG 2 | Reuters |
| Aug. 2025 | Trump Jr.’s lawyer sends Beach a cease-and-desist letter over business claims, per the WSJ; Beach says he never saw it | WSJ via Raw Story |
| Fall 2025 | Gentry Beach signs an agreement with Novatek on Alaska gas, per the NYT | Reuters |
The Reuters report on the summit-era talks quoted a source saying “These deals were also briefly discussed at the Alaska summit on August 15.” Our Anchorage summit explainer covers that meeting.
2026: Polar LNG launches and courts Alaska
| Date | Event | Source |
|---|---|---|
| Feb. 20 | NYT reports Beach’s Novatek deal; Novatek confirms talks but not a Beach partnership | Reuters |
| Late Feb. | Novatek says it is negotiating use of its gravity-based LNG technology in Alaska | Anchorage Daily News |
| March 3 | Beach describes his separate Polar Eagle plan; says he does not do business with the Trumps | Anchorage Daily News |
| March 30 | Polar LNG launches with Joel Riddle as CEO | PR Newswire |
| April 1 | Riddle tells Reuters Polar LNG will seek OFAC approval to buy Arctic LNG 2 equipment; names Beach as an investor | Reuters |
| April | Novatek and Polar Train LNG sign an MOU; Novatek also licenses Tech Wave to use its technology | FT via Business Standard |
| May 19 | Riddle presents Polar LNG in a plenary slot at the Alaska Sustainable Energy Conference | Conference agenda |
At launch, Polar LNG told Reuters that its first phase would require “$8 billion to $9 billion in investments.” The FT later used a $25 billion figure for the project. Riddle’s April remark that Beach was an investor matters for later rows: he now says Beach “had not invested in the company and was neither a shareholder nor a director,” according to Business Standard. Beach’s own story is in our Gentry Beach profile.
September and October 2026: resignations, a waiver, the reports
| Date | Event | Source |
|---|---|---|
| Early Sept. | Novatek’s Denis Solovyov texts Riddle about money that was “supposed to arrive by today” | NYT via Raw Story |
| Sept. 5 | Witkoff and Kushner meet Putin at the Kremlin; NYT says Putin raised the Alaska plan in talks that month | NYT via Ukrainska Pravda, Raw Story |
| September | Riddle resigns; finance chief and two other executives follow | FT via Business Standard |
| Sept. 18 | Trump signs the Graham Act into law | White House |
| Oct. 16 | Executive Order 14436 waives the law’s Russia sanctions and tariffs | White House |
| Oct. 23 | Polar LNG names Tim Talkington acting CEO, says Riddle was fired, discloses OFAC application | Polar LNG |
| Oct. 23-24 | FT and NYT publish Riddle’s allegations and the Novatek texts | Business Standard, Raw Story |
| Reported Oct. 25 | Trump says the U.S. will do business with Russia and Ukraine after the war | ANI |
Three of those rows need caveats. The NYT, as summarized by Raw Story, said texts it reviewed showed Novatek’s leaders discussing as much as $15 million for Tech Wave; how much actually arrived has not been reported. On Riddle’s exit, the paper reported that “Documents obtained by the Times show Riddle resigned six days before the company sent him a termination letter,” while the company’s Oct. 23 statement says “Riddle was recently terminated from the company for cause.” And the Sept. 5 meeting row combines two NYT reports: one placing the Kremlin meeting on that date, the other saying Putin raised the Alaska plan with the envoys “last month.”
The waiver row is documented by the White House order itself. Coverage reviewed for this timeline does not tie the waiver to Polar LNG. Trump’s post-report comment, carried by ANI, was general: “We’ll do business with Ukraine and with Russia after this war ends, I would think.” He did not mention Polar LNG in that account.
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What comes next on the calendar
No dates are fixed. Polar LNG’s license application to OFAC, disclosed Oct. 23, was pending with no announced decision as of Oct. 26. The company says it aims to start gas deliveries before 2031, subject to permits and financing, and that its inquiry into claims about Riddle could lead to litigation. For the debate over how serious the story is, read our case-and-gaps analysis of the scandal question, and for the allegations in detail, our main news report.
Frequently Asked Questions
When did Novatek first get involved in Alaska gas plans?
In the reporting reviewed, the earliest Novatek-Alaska agreement is Gentry Beach’s deal, which Reuters, citing the New York Times, said was signed in autumn 2025. Novatek confirmed in February 2026 that it was negotiating over its liquefaction technology for Alaska. Its memorandum with Polar Train LNG followed in April 2026.
When did Joel Riddle leave Polar LNG?
Riddle resigned in September 2026, as both the FT and the NYT reported. The NYT says paperwork shows he quit nearly a week ahead of any dismissal letter, while Polar LNG insists he was let go for cause.
How long after the Graham Act waiver did the Polar LNG story break?
One week. Trump signed the waiver order on October 16, 2026, and the Financial Times and New York Times reports appeared on October 23 and 24. No outlet has reported that the two events were connected.
What is the status of Polar LNG’s OFAC license?
Polar LNG said on October 23 that it had applied to Treasury’s Office of Foreign Assets Control seeking permission to purchase a partly built Novatek gravity-based structure. As of October 26, no decision had been announced.
Sources
- Taking Additional Sweeping Measures Against Russia — U.S. Department of State, November 2, 2023
- Russia and US Talks Joint Arctic Energy Projects After Saudi Meeting — High North News, February 19, 2025
- US and Russian Officials Discussed Energy Deals Alongside Latest Ukraine Peace Talks — Reuters (via gCaptain), August 26, 2025
- ‘Frustrated’: Donald Trump Jr. raging over friend with ‘destructive information’ about him — Raw Story (citing The Wall Street Journal), October 5, 2025
- Trump ally ties up with Russia’s Novatek on natural gas in Alaska, NYT reports — Reuters (via Internazionale), February 20, 2026
- Texas investor with Trump family ties pursues project to tap North Slope gas — Anchorage Daily News, March 3, 2026
- Polar LNG Launches and Appoints Industry Veteran Joel Riddle as President and CEO — Polar LNG via PR Newswire, March 30, 2026
- Planned LNG plant in Alaska seeks equipment from sanctioned Russia firm — Reuters (via Eye on the Arctic), April 1, 2026
- Top executives quit $25 bn US gas project over alleged Russian control — Business Standard, October 25, 2026
- Agenda: Alaska Sustainable Energy Conference 2026 — Alaska Sustainable Energy Conference, May 2026
- Whistleblower CEO quits over hidden Russian cash behind gas deal in Trump peace talks: NYT — Raw Story, October 24, 2026
- US and Russia reportedly negotiate multibillion-dollar deal on Lukoil assets — Ukrainska Pravda (citing The New York Times), October 3, 2026
- Implementing the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 — The White House (Executive Order 14436), October 16, 2026
- Polar LNG Announces Leadership Change and Outlines Vision for Alaska North Slope Development — Polar LNG (company statement), October 23, 2026
- Former CEO: Russian Firm Backed Alaska Gas Venture — Newsmax (via Yahoo News), October 24, 2026
- US will do business with Ukraine and Russia after war ends: Trump — ANI, October 25, 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.