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Excerpt: "Exxon Mobil Corp (XOM.N) on Wednesday declined to comment on a media report that it is seeking permission from the U.S. government to drill in several areas of the Black Sea banned by U.S. sanctions on Russia."

The US secretary of state, Rex Tillerson, accused Iran of 'alarming and ongoing provocations' in the Middle East. (photo: Mandel Ngan/Getty)
The US secretary of state, Rex Tillerson, accused Iran of 'alarming and ongoing provocations' in the Middle East. (photo: Mandel Ngan/Getty)


Exxon Mobil Applies for Sanctions Waiver for Russian Oil

By Reuters

20 April 17

 

xxon Mobil Corp (XOM.N) on Wednesday declined to comment on a media report that it is seeking permission from the U.S. government to drill in several areas of the Black Sea banned by U.S. sanctions on Russia.

The Wall Street Journal reported that Exxon had in recent months applied to the U.S. Treasury Department for a waiver to drill with Russian oil producer Rosneft (ROSN.MM). Any such request is likely to draw attention because Exxon's former chief executive, Rex Tillerson, is now U.S. secretary of state.

Exxon spokesman Alan Jeffers said the company does not comment on ongoing discussions with regulators. But he pointed out that it has in the past been granted permission from Treasury to keep intact Exxon's joint venture with Rosneft, despite the sanctions.

During at least three occasions in 2015 and 2016, Exxon was granted licenses allowing "limited administrative actions" in Russia, according to annual shareholder disclosures.

The United States and European Union imposed economic sanctions on Russia over its annexation of the Crimea region in 2014 and role in the conflict in eastern Ukraine.

Texas-based Exxon, the world's largest publicly traded oil producer, wound down drilling in Russia's Arctic in 2014 after those sanctions were imposed. Exxon was allowed to finish some drilling projects as the sanctions took effect.

Exxon and Rosneft in 2012 had unveiled an offshore exploration partnership with plans to invest as much as $500 billion in developing Russia's vast energy reserves in the Arctic and Black seas.

Any request from Exxon to expand its business in Russia is bound to draw scrutiny from U.S. lawmakers investigating possible ties between some campaign aides of U.S. President Donald Trump and Moscow.

Some Republicans in Congress, as well as some European allies, are also anxious about any sign that the Trump administration might ease some of the sanctions imposed on Russia.

Tillerson was confirmed by the U.S. Senate as Secretary of State in February, and has promised to recuse himself from matters related to Exxon for a year.

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+2 # Rodion Raskolnikov 2017-04-20 10:09
I would be in favor of removing all sanctions against Russia. And against all nations. Economic sanctions are a form of war. Why does the US need to be at war with about half the world?

This special exemption for Exxon is just corruption. Now there needs to be a justice department investigation of Tillerson to see if he's still working for Exxon.

The first principle of the Rule of Law is that all laws apply equally to everyone. No one is above or outside of the laws. The sanction regimes have always been a violation of the rule of law. The US has no understanding of the rule of law at all.
 
 
0 # lfeuille 2017-04-20 19:28
I would be in favor of removing all sanctions on Russia but outlaw all US companies from getting involved in any fossil fuel deals anywhere in the world. I don't want to single out Russia or possibly provoke a war, but I don't want to cooperate with them in trashing the Artic either.
 
 
0 # mashiguo 2017-04-20 11:09
Good!
If greed puts an end to the headlong rush to WW III so be it.
 
 
-1 # DongiC 2017-04-20 13:36
Were not the sanctions imposed on Russia a few years ago ? When there was trouble in the Ukraine and the Crimea went back to Russia. Settle these problems, first, and then drop the sanctions.
 
 
+1 # lfeuille 2017-04-20 19:26
More propaganda. The problems went back to Victoria Nuland and the US State Departments regime change agenda.
 
 
0 # angelfish 2017-04-20 18:00
BOYCOTT Exxon and ALL the Money-Grubbing Traitors who would deal with the Devil simply to make a Buck! WHATEVER happened to putting Country before Profit, Patriotism before Treason, or Honor before Expediency? I have NEVER been ashamed of my Country before these "ME FIRST-ers" stole our Democracy out from under us. Sadly, not only is Justice dead or dying in a corner somewhere but Honor, Patriotism and Love of country are scarce commodities in Trumplandia! WAKE UP, America! It will be almost impossible to recover from their Governance by BIG Money. We MUST make them understand that not ALL of us can be bought!
 
 
+1 # Robbee 2017-04-20 21:02
so the other shoe drops! - Exxon Mobil Applies for Sanctions Waiver for Russian Oil - Reuters 20 April 17 - is what comes of rump colluding with putin to throw the election! - you get what you pay for! the black sea oil monopoly!

dontcha just wish the nsa would leak sir exxon-ceo's 2016 international phone transcripts?
 

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