Exxon Mobil has reportedly applied for a waiver to work in Russian Federation

Ashley Carr
April 20, 2017

But Tillerson and company officials did note that Exxon Mobil had received a waiver to complete drilling an exploration well in Russia's Arctic waters.

The company wound down drilling in Russia's Arctic in 2014 in the face of USA sanctions targeting cooperation between Western companies and Moscow's oil sector.

Exxon Mobil, the company once ran by Secretary of State Rex Tillerson, is seeking a waiver from US sanctions on Russia, The Wall Street Journal reported Wednesday.

An Exxon spokesman said the company declined to comment on ongoing issues. Any such request is likely to draw attention because Exxon's former chief executive, Rex Tillerson, is now USA secretary of state.

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Both the Treasury Department and ExxonMobil refused to comment on the pending application. European companies, particularly Eni, the Italian giant, could then pick up the work.

Tillerson pledged he would recuse himself from matters pertaining to Exxon during his first two years at State.

The sanctions were imposed after Russian Federation annexed the Crimea region of Ukraine in 2014. Exxon was ordered to stop drilling in the Kara Sea off Russia's northern coast. Part of the sanctions leveled on Russia include the prohibition of technology transfers in Russian energy projects in the Arctic, Siberia, and the Black Sea. 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. Congress has also launched an investigation into whether there were ties between aides to Donald Trump and Russia's government during the presidential campaign and the political transition.

The Black Sea is covered by USA economic sanctions aimed at preventing certain business dealings in retaliation for Russia's annexation of Ukraine.

Other reports by My Hot News

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