POLITICS

04/21/2017 02:19 pm ET
|
Up to date
2 minutes in the past

The USA is not going to make an exception for American firms, together with oil main Exxon Mobil Corp, in search of to drill in areas prohibited by U.S. sanctions on Russia, Treasury Secretary Steven Mnuchin mentioned on Friday.

“In session with President Donald J. Trump, the Treasury Division is not going to be issuing waivers to U.S. firms, together with Exxon, authorizing drilling prohibited by present Russian sanctions,” Mnuchin mentioned in an announcement.

Exxon spokesman Alan Jeffers had no fast touch upon the assertion. The corporate this week declined to touch upon a Wall Road Journal report that it’s in search of permission from the U.S. authorities to drill in a number of areas of the Black Sea banned by U.S. sanctions on Russia.

The USA and European Union imposed financial sanctions on Russia over its annexation of the Crimea area in 2014 and function within the battle in jap Ukraine.

Texas-based Exxon, the world’s largest publicly traded oil producer, wound down drilling in Russia’s Arctic in 2014 after these sanctions have been imposed. Exxon was allowed to complete some drilling tasks because the sanctions took impact.

(Reporting by Yeganeh Torbati and Ernest Scheyder; Enhancing by Andrew Hay and Alistair Bell)