US Treasury denies waiver to Exxon Mobil for Russia project

Business | Markets | Energy 4/21/2017, 7:56 PM
US Treasury denies waiver to Exxon Mobil for Russia project

The United States Department of the Treasury denied a waiver to Secretary of State Rex Tillerson's former company Exxon Mobil Corporation from sanctions against Russia, thus preventing the company from re-launching a project with Russia's PAO Rosneft in the Black Sea, CNBC reported on Friday.

The move implies the US-based energy giant would not be allowed to retain the license for an oilfield in the Black Sea, thus dispersing its hopes for holding onto the position to block Italian Eni SpA from moving in.

Exxon Mobil’s stock posted a drop of 0.21% to be valued at $80.84 on Friday.

TeleTrader Newsroom / KV

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