ExxonMobil Fined $2Mln for Dealing With Russia in Violation of Sanctions

© AFP 2022 / ERIC PIERMONTLogo of US oil and gas giant ExxonMobil
Logo of US oil and gas giant ExxonMobil - Sputnik International
Oil and gas giant ExxonMobil has been fined $2 million for violations of Ukraine-related sanctions regulations by signing documents with Russia’s Rosneft, the US Treasury Department said in a press release on Thursday.

WASHINGTON (Sputnik) – In May 2014, ExxonMobil reportedly violated the sanctions when the presidents of its US subsidiaries signed eight legal documents related to oil and gas projects in Russia with Rosneft President Igor Sechin, who is under US sanctions, the release noted.

"The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has assessed a $2,000,000 civil monetary penalty against ExxonMobil Corp….for violations of § 589.201 of the Ukraine-Related Sanctions Regulations, 31 C.F.R. part 589 (Ukraine-Related Sanctions Regulations)," the release stated.

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ExxonMobile did not voluntarily self-disclose the violations, the release added.

Interestingly, current US State Secretary Rex Tillerson who was the director of ExxonMobil at the time of the alleged violation, had repeatedly called for the anti-Russian sanctions lifting when he had headed the company, but later, when he had started working in the new US administration, he said that sanctions must remain.

Brussels, Washington and their allies have introduced several rounds of anti-Russia sanctions since Crimea became part of Russia in 2014 and over Moscow's alleged involvement in the Ukrainian conflict. Russia has repeatedly refuted the allegations, warning that the Western sanctions are counterproductive and undermine global stability.

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