U. S. Rejects Exxon Mobil Bid for Waiver on Russia Sanctions -
By CLIFFORD KRAUSSAPRIL 21, 2017
HOUSTON — The Trump administration delivered a setback to Exxon Mobil on Friday, announcing
that it would not grant the oil giant a waiver from sanctions against Russia that would allow drilling in the Black Sea.
“Our 2015 application for a license under the provisions outlined in the U. S. sanctions was made to enable our company to meet its contractual obligations
under a joint venture agreement in Russia, where competitor companies are authorized to undertake such work under European sanctions.”
United States and European sanctions were first imposed on Russia in March 2014 in response to Moscow’s annexation of Crimea from Ukraine.
“In consultation with President Donald J. Trump,” Treasury Secretary Steven Mnuchin said in a terse, prepared statement, “the Treasury Department
will not be issuing waivers to U. S. companies, including Exxon, authorizing drilling prohibited by current Russian sanctions.”
The prospect of a waiver had drawn denunciations from both Democratic and Republican lawmakers.
Exxon Mobil applied for the waiver in 2015, arguing
that it could lose its exploration rights in the Black Sea if it did not begin drilling operations by the end of 2017 under its contract with the Russian state oil company Rosneft.
Exxon Mobil’s drilling rights in the Black Sea were part of a sweeping strategic partnership Exxon
Mobil developed with Rosneft in 2011 while Mr. Tillerson was in charge of the American company.