Friday, 21 July 2017

Exxon Mobil fined for violating sanctions against Russia

Exxon Mobil has been fined $2m for violating sanctions against Russia while US Secretary of State Rex Tillerson was its CEO.
The US Treasury said the oil company had shown "reckless disregard" for sanctions imposed by the Obama administration in 2014 over Russia's annexation of Crimea.

Exxon's "senior-most executives" were aware of the sanctions when two of its subsidiaries signed deals with Russian oil magnate Igor Sechin, it added.

Mr Sechin chairs Russian oil giant Rosneft. He is also on a US blacklist that bars Americans from doing business with him.

The Treasury's Office of Foreign Assets Control (Ofac), said that by engaging with "an official of the government of the Russian Federation contributing to the crisis in Ukraine", Exxon had caused "significant harm".

The fine was the maximum civil penalty it could level.

Exxon has maintained its innocence, saying in a statement that it "followed clear guidance" from the White House and Treasury Department when it did the deals with Rosneft, adding that Rosneft was not subject to sanctions at the time.

SKY      News.