CONVENIENT

Exxon Mobil Applies for Sanctions Waiver for Russian Oil

Following ex-CEO’s confirmation as secretary of State.

Exxon Mobil Corp., the oil giant previously headed by Secretary of State Rex Tillerson, has applied to the Treasury Department for a waiver that would allow the company to do business with Russia’s state-owned oil giant Rosneft in areas banned under U.S. sanctions, the The Wall Street Journal reports. Exxon Mobil applied for a similar waiver to drill in prohibited areas in 2015 but was rejected, the Journal reports. Tillerson was the company’s CEO from 2006 to 2016, when he stepped down in anticipation of becoming secretary of State, a position for which he was confirmed in February. Approximately a month after his confirmation, Exxon Mobil reportedly launched a renewed effort to obtain a waiver to do business with Rosneft. The State Department will reportedly have a say on the outcome Exxon Mobil’s waiver application. Tillerson has previously stated that Exxon opposes sanctions that it views as arbitrarily applied, but during his confirmation hearing he testified that neither he nor Exxon Mobil had ever lobbied the U.S. to ease sanctions on Russia.