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The Treasury Department said Friday that it would not issue any waivers to U.S. companies — including ExxonMobil — seeking to do oil and gas drilling with Russia in violation of current economic sanctions.
In a statement that mentioned the company by name, Treasury Secretary Steven Mnuchin said his department had made its decision “in consultation with President Donald J. Trump.”
In July 2015, ExxonMobil had asked the Treasury’s Office of Foreign Assets Control to make an exception to the Russia sanctions, which were imposed after Moscow annexed Ukraine’s Crimea region in early 2014. ExxonMobil had sought to do deepwater exploration drilling in the Russian area of the Black Sea before the end of the year to prevent a joint venture agreement with Rosneft from expiring. Rosneft, whose chief executive, Igor Sechin, is a close confidante of President Vladimir Putin, is a sanctioned company.
ExxonMobil also said that rival oil companies in Europe were planning to drill in Russia.
Trump to ExxonMobil: No waiver from Russia sanctions
Heaven don't piss off the oil companies.
In a statement that mentioned the company by name, Treasury Secretary Steven Mnuchin said his department had made its decision “in consultation with President Donald J. Trump.”
In July 2015, ExxonMobil had asked the Treasury’s Office of Foreign Assets Control to make an exception to the Russia sanctions, which were imposed after Moscow annexed Ukraine’s Crimea region in early 2014. ExxonMobil had sought to do deepwater exploration drilling in the Russian area of the Black Sea before the end of the year to prevent a joint venture agreement with Rosneft from expiring. Rosneft, whose chief executive, Igor Sechin, is a close confidante of President Vladimir Putin, is a sanctioned company.
ExxonMobil also said that rival oil companies in Europe were planning to drill in Russia.
Trump to ExxonMobil: No waiver from Russia sanctions
Heaven don't piss off the oil companies.