ExxonMobil denied waiver of US sanctions ban on Russia oil joint venture

ExxonMobil, a US oil and gas corporation, and other US firms have been told that the US Treasury will not be issuing them with waivers authorising drilling prohibited by current US sanctions on Russia. ExxonMobil recently applied to the US Treasury for authorisation to resume its Arctic joint venture with Russian state-owned oil firm Rosneft, which was halted by the imposition of US sanctions on Russia in 2014. ExxonMobil also applied for authorisation to operate in the Black Sea in July 2015, but its application was turned down. The sanctions prohibit US firms from participating in projects that would involve them sharing certain technology with Russian firms.

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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