‘America First’ à la Trump: US Oil Giant Deprived of Profits and Lucrative Deals


From Strategic Culture Foundation


President Donald Trump has rejected Exxon Mobil waivers to operate in Russia, which it had asked for and received in 2015 and 2016. In 2012, the then CEO Rex Tillerson negotiated a deal with Rosneft, worth as much as $500 billion in joint investments, to explore deposits in the Black Sea, the Arctic and Russia’s Far East. «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.

The United States and European Union imposed economic sanctions on Russia over Ukraine in 2014. U.S. companies frequently file license applications to the Treasury Department asking permission to undertake activities that would otherwise be barred by sanctions. The U.S. government weighs each application based on national security interests, the law…

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