+

Treasury won't grant Exxon drilling waiver for Russia :: TheHill

0

 

 

The Treasury Department will not grant Exxon Mobil Corp.'s request for a waiver allowing it to work with Russia's state oil company on a joint drilling venture, the agency said Friday.

"In consultation with President Donald J. Trump, the Treasury Department will not be issuing waivers to U.S. companies, including Exxon, authorizing drilling prohibited by current Russian sanctions," Treasury Secretary Steven Mnuchin said in a statement.

Exxon reportedly requested a waiver from the Trump administration this week that would allow it to drill for oil in the Black Sea, an area covered by U.S. sanctions on the country.

DEVELOPING