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Exxon will not say if it is seeking waiver from Russia sanctions

Reuters  |  HOUSTON 

HOUSTON (Reuters) - Corp on Wednesday declined to comment on a media report that it is seeking permission from the U.S. to drill in several areas of the Black Sea banned by U.S. on

The Wall Street Journal reported that had in recent months applied to the U.S. Treasury Department for a waiver to drill with Russian oil producer Rosneft . Any such request is likely to draw attention because Exxon's former chief executive, Rex Tillerson, is now U.S. secretary of state.

spokesman Alan Jeffers said the company does not comment on ongoing discussions with regulators. 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

During at least three occasions in 2015 and 2016, was granted licenses allowing "limited administrative actions" in Russia, according to annual shareholder disclosures.

The United States and European Union imposed economic on over its annexation of the Crimea region in 2014 and role in the conflict in eastern Ukraine.

Texas-based Exxon, the world's largest publicly traded oil producer, wound down drilling in Russia's Arctic in 2014 after those were imposed. was allowed to finish some drilling projects as the took effect.

and Rosneft in 2012 had unveiled an offshore exploration partnership with plans to invest as much as $500 billion in developing Russia's vast energy reserves in the Arctic and Black seas.

Any request from to expand its business in is bound to draw scrutiny from U.S. lawmakers investigating possible ties between some campaign aides of U.S. President Donald Trump and Moscow.

Some Republicans in Congress, as well as some European allies, are also anxious about any sign that the Trump administration might ease some of the imposed on

Tillerson was confirmed by the U.S. Senate as Secretary of State in February, and has promised to recuse himself from matters related to for a year.

(Reporting by Ernest Scheyder in Houston and Arathy S Nair in Bengaluru; Editing by Tiffany Wu)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Exxon will not say if it is seeking waiver from Russia sanctions

HOUSTON (Reuters) - Exxon Mobil Corp on Wednesday declined to comment on a media report that it is seeking permission from the U.S. government to drill in several areas of the Black Sea banned by U.S. sanctions on Russia.

HOUSTON (Reuters) - Corp on Wednesday declined to comment on a media report that it is seeking permission from the U.S. to drill in several areas of the Black Sea banned by U.S. on

The Wall Street Journal reported that had in recent months applied to the U.S. Treasury Department for a waiver to drill with Russian oil producer Rosneft . Any such request is likely to draw attention because Exxon's former chief executive, Rex Tillerson, is now U.S. secretary of state.

spokesman Alan Jeffers said the company does not comment on ongoing discussions with regulators. 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

During at least three occasions in 2015 and 2016, was granted licenses allowing "limited administrative actions" in Russia, according to annual shareholder disclosures.

The United States and European Union imposed economic on over its annexation of the Crimea region in 2014 and role in the conflict in eastern Ukraine.

Texas-based Exxon, the world's largest publicly traded oil producer, wound down drilling in Russia's Arctic in 2014 after those were imposed. was allowed to finish some drilling projects as the took effect.

and Rosneft in 2012 had unveiled an offshore exploration partnership with plans to invest as much as $500 billion in developing Russia's vast energy reserves in the Arctic and Black seas.

Any request from to expand its business in is bound to draw scrutiny from U.S. lawmakers investigating possible ties between some campaign aides of U.S. President Donald Trump and Moscow.

Some Republicans in Congress, as well as some European allies, are also anxious about any sign that the Trump administration might ease some of the imposed on

Tillerson was confirmed by the U.S. Senate as Secretary of State in February, and has promised to recuse himself from matters related to for a year.

(Reporting by Ernest Scheyder in Houston and Arathy S Nair in Bengaluru; Editing by Tiffany Wu)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Business Standard
177 22

Exxon will not say if it is seeking waiver from Russia sanctions

HOUSTON (Reuters) - Corp on Wednesday declined to comment on a media report that it is seeking permission from the U.S. to drill in several areas of the Black Sea banned by U.S. on

The Wall Street Journal reported that had in recent months applied to the U.S. Treasury Department for a waiver to drill with Russian oil producer Rosneft . Any such request is likely to draw attention because Exxon's former chief executive, Rex Tillerson, is now U.S. secretary of state.

spokesman Alan Jeffers said the company does not comment on ongoing discussions with regulators. 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

During at least three occasions in 2015 and 2016, was granted licenses allowing "limited administrative actions" in Russia, according to annual shareholder disclosures.

The United States and European Union imposed economic on over its annexation of the Crimea region in 2014 and role in the conflict in eastern Ukraine.

Texas-based Exxon, the world's largest publicly traded oil producer, wound down drilling in Russia's Arctic in 2014 after those were imposed. was allowed to finish some drilling projects as the took effect.

and Rosneft in 2012 had unveiled an offshore exploration partnership with plans to invest as much as $500 billion in developing Russia's vast energy reserves in the Arctic and Black seas.

Any request from to expand its business in is bound to draw scrutiny from U.S. lawmakers investigating possible ties between some campaign aides of U.S. President Donald Trump and Moscow.

Some Republicans in Congress, as well as some European allies, are also anxious about any sign that the Trump administration might ease some of the imposed on

Tillerson was confirmed by the U.S. Senate as Secretary of State in February, and has promised to recuse himself from matters related to for a year.

(Reporting by Ernest Scheyder in Houston and Arathy S Nair in Bengaluru; Editing by Tiffany Wu)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22