US District Court overturns ExxonMobil $2m penalty

The District Court for the Northern District of Texas has overturned the $2m fine on ExxonMobil in relation to dealing with Igor Sechin, the designated CEO of Rosneft; judgment here. The court said OFAC had not given “fair notice” (a requirement of due process) that ExxonMobil’s conduct was prohibited and would give rise to a penalty, in violation of the …