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Exxon Mobil Denied Waiver to Drill for Oil in Russia

Following reports that Exxon Mobil had been seeking a waiver from sanctions on Russia to drill for oil in the Black Sea, the Treasury Department announced that it would not issue waivers to U.S. companies. Jim Krane, Wallace S. Wilson Fellow for Energy Studies, noted to Politico that “there seems to be very little upside to singling out Exxon Mobil and Russia for special treatment." Instead, had the Trump administration approved their request, it would "reek of conflict of interest," said Krane.

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