US Treasury rejects Exxon Mobil request to drill in Russia
April 21, 2017
WASHINGTON (AP) — The Trump administration has rejected a request from Exxon Mobil to waive U.S. sanctions against Russia to allow the company to resume oil drilling around the Black Sea.
Treasury Secretary Steven Mnuchin said Friday in a brief statement that the administration "will not be issuing waivers to U.S. companies, including Exxon, authorizing drilling prohibited by current Russian sanctions."
Exxon said it understood the decision, while suggesting that the outcome will merely help European oil companies operating under less-stringent restrictions.
The decision comes just two da...