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ExxonMobil showed “reckless disregard” in violating Russian sanctions while Rex Tillerson was the oil company’s CEO, the treasury department said on Thursday.
The treasury fined Exxon $2m for violating sanctions that the Obama administration imposed on Russian entities in 2014 over Russia’s annexation of Crimea. And it said the company’s “senior-most executives” were aware of the sanctions when two of its subsidiaries signed deals with the Russian oil magnate Igor Sechin. Sechin is the chairman of the Russian oil giant Rosneft and is on a US blacklist that bars Americans from doing business with him.
In a statement, Exxon countered that it had done nothing wrong and complained that the fine was “fundamentally unfair”. The state department declined to comment on Tillerson’s role, referring all questions to Exxon.
