Exxon Wants Waiver From Sanctions To Drill In Russia

Rex Tillerson Delivers Remarks At State Department On North Korea And Iran

Rex Tillerson Delivers Remarks At State Department On North Korea And Iran

Treasury Secretary Steve Mnuchin said the decision was made after consultation with President Donald Trump, according to a statement on Friday.

Exxon Mobil requested a waiver Wednesday from us sanctions against Russian Federation in hopes of doing business with a competing energy company.

During the campaign, Trump spoke warmly of Russian leader Vladimir Putin and suggested he might be willing to lift some of the sanctions on the country the United States imposed after Russia's invasion of Ukraine and annexation of the Crimean Peninsula. However, due to USA sanctions, Exxon Mobil was forced to halt projects under the agreement on strategic cooperation with Rosneft, including drilling in the Kara Sea.

The Obama administration previously issued an executive order that imposed sanctions on Russian Federation in response to the country's actions in Ukraine. As a wave of competitors move in on the lucrative Black Sea region, the USA oil giant could stand to lose out if it doesn't act quickly.

Any request from Exxon to expand its business in Russian Federation is bound to draw scrutiny from U.S. lawmakers investigating possible ties between some campaign aides of U.S. President Donald Trump and Moscow. Tillerson said during his confirmation hearing that "obviously there's a statutory recusal period, which I will adhere to, on any matters that might come before the State Department that deal directly and specifically with ExxonMobil".

Exxon said it understood the decision, while suggesting that the outcome would merely help European oil companies operating under less-stringent restrictions.

According to the Wall Street Journal, Exxon is asking for a sanctions waiver because its exploration rights in the Black Sea will soon expire if the company does not act.

The sanctions also affected deepwater drilling, stopping Exxon from working in the Black Sea where water depths can exceed 1,000ft. To my knowledge, Exxon Mobil never lobbied against the sanctions.

Exxon said in a statement to CBS News that it applied for the waiver because the companies it competes with in Europe are not barred from doing similar work in Russian Federation.

The move ends what could have been seen as a controversial conflict of interest for the Trump administration, with the oil giant's former CEO Rex Tillerson now leading the State Department. Exxon did not respond to The Daily Caller News Foundation's request for comment in time for the publication of this article.

It's most recent waiver request could become a contested issue in Congress, especially among lawmakers who want stricter sanctions against Russian Federation. Exxon Mobil participated in understanding how the sanctions were going to be constructed.

The State Department has said that Tillerson will recuse himself from any issue involving Exxon for two years.

Recommended News

  • National Hockey League playoffs: Senators at Bruins Game 3

    Because of the ravaged rearguards on their roster, both Chara and McAvoy are being asked to play herculean minutes against Ottawa. You want to see ecstasy? The last time he won such a contest was the historic Game 7 overtime win over Toronto (5-4) in 2013.
    Rafael Benitez wants Newcastle United to

    Rafael Benitez wants Newcastle United to "finish our job" and win promotion

    And, according to The Mirror , Newcastle United will reignite their interest in Fulham star Tom Cairney once they win promotion. The Magpies have no plans for a open-top bus parade, or any high-profile celebration, in the event of promotion.
    Briggs & Stratton Corporation (NYSE:BGG) reported Q3 net sales of $597 million

    Briggs & Stratton Corporation (NYSE:BGG) reported Q3 net sales of $597 million

    Jefferies Grp Ltd Liability Com holds 0% of its portfolio in Briggs & Stratton Corporation (NYSE:BGG) for 12,470 shares. Following the sale, the senior vice president now owns 92,009 shares in the company, valued at $2,009,476.56.
  • Jays Place Troy Tulowitzki On DL With Strained Hamstring

    Jays Place Troy Tulowitzki On DL With Strained Hamstring

    Just to be able to come in in the 13th inning with bases loaded and try to pitch and try to get out of it - what an experience. After a five-inning wait, it came eventually with three home runs, but that outburst also had motivation from Stroman as well.

    Arsene Wenger on Arsenal aims: This is the immediate plan

    Arsenal boss Arsene Wenger says a Top Four finish will not be easy to achieve for his side despite a vital 2-1 win away at Middlesbrough.
    Trump, Patriots fight back against White House attendance photos

    Trump, Patriots fight back against White House attendance photos

    Patriots spokesman Stacey James told The New York Times about 34 players visited the White House in 2005 and 2006 when George W. The White House said it was notified that Brady was dealing with a "personal family matter" and will not attend the ceremony.
  • India's steel consumption to grow 6.1% in 2017: WorldSteel

    India's steel consumption to grow 6.1% in 2017: WorldSteel

    South Korea produced 68.6 million tonnes of crude steel in 2016, marking a decrease of 1.6 percent when compared to 2015. In 2018, global steel demand will grow by 0.9% and will reach 1,548.5 MT, WSA said.
    3 killed during anti-government protests in Venezuela

    3 killed during anti-government protests in Venezuela

    On Thursday morning, supporters of the center-right political opposition blocked the Prados del Este freeway in both directions. His opposition has called on the military, a pillar of Maduro's power, to remove their support for the president.
    NZD drops v Euro on election round one

    NZD drops v Euro on election round one

    At Le Pen's campaign base 120 miles north of Paris , Jerome Leroy, 34, an entrepreneur, was ecstatic over the results. She hopes to win over far-left and other voters angry at the global elite and distrustful of the untested Macron.
  • France had a presidential election yesterday...now what happens?

    France had a presidential election yesterday...now what happens?

    She said that what was mainly at stake was "the wild globalisation that endangers our civilisation". Roars of "Marine Presidente" went up there as the early projected results came through.

    MCD Elections 2017: Kejriwal, Yogendra Yadav Cast Their Vote

    Meanwhile, annoyed over the officials' delay in sending poll turnout data, the SEC has chose to issue memos to them. The polling for the three Municipal Corporations of Delhi began at 8 a.m. today and will end at 5:30 p.m.
    Trump to insist on border wall funds as budget deadline looms

    Trump to insist on border wall funds as budget deadline looms

    Trump tweeted a separate warning at Democrats on Sunday, saying: "ObamaCare is in serious trouble". Democrats timed their call to mark the 100th day of Trump's presidency, which falls next Saturday.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.