The U.S. government fined Exxon $2 million for signing the joint ventures just after sanctions were imposed in 2014.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Exxon Mobil Corp. will exit some joint ventures with Russia's Rosneft, citing Western sanctions first imposed in 2014, while the Russian company said the pullout will result in serious losses for its U.S. partner.The sanctions were effective in slowing work on a project by Exxon and Rosneft on what was hailed as a major discovery in the Kara Sea above the Arctic Circle.Exxon's exit from projects will not affect the Sakhalin project off the eastern coast of Russia, Exxon and Rosneft spokesmen said.Rosneft also said in a statement that it would implement the projects on its own even though Exxon has decided to pull out of them.The U.S. government fined Exxon $2 million for signing the joint ventures just after sanctions were imposed in 2014, saying the company showed a "reckless disregard" for the sanctions.
FOLLOW THIS ARTICLE