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Rappeport writes: "The Treasury Department on Thursday fined Exxon Mobil $2 million for violating sanctions that the United States imposed on Russia in 2014 while Rex W. Tillerson, now the secretary of state, was the oil company's chief executive."

Trump secretary of state Rex Tillerson appears with Russian president Vladimir Putin. (photo: AP)
Trump secretary of state Rex Tillerson appears with Russian president Vladimir Putin. (photo: AP)


Exxon Mobil Fined for Violating Sanctions on Russia Under Tillerson

By Alan Rappeport, The New York Times

22 July 17

 

he Treasury Department on Thursday fined Exxon Mobil $2 million for violating sanctions that the United States imposed on Russia in 2014 while Rex W. Tillerson, now the secretary of state, was the oil company’s chief executive.

The penalty was relatively small for the Treasury and a blip on Exxon’s mammoth balance sheet, but it came as controversy over Russia policy has engulfed Washington. The Trump administration is facing questions about Russia’s intervention in the 2016 election, and Congress has considered stiffening sanctions out of concern that President Trump will try to ease those already in place.

The move also underscores concerns over Mr. Tillerson’s deep business connections in Russia.


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+4 # reiverpacific 2017-07-22 10:16
2 Million???!!!!
That's not even a smack on the wrist for Exxon Mobil.
More like a "Nod-nod, wink-wink, sorry guys!" soft handshake.
What an example of soft pedaling!
 
 
0 # lnason@umassd.edu 2017-07-22 12:22
The fine has to be small since the deal itself was tiny.

But more importantly, Exxon is challenging the fine, tiny as it is, since they had adhered to official guidance from the government had provided them BEFORE signing the deal. They had specifically been told that the sanction was on Sechin personally and did not apply to Rosnoft. In order to assess this fine, Treasury had to change the meaning and intent of the sanctions. This appears to be another attempt at creating headlines to undermine the administration. And it is a particularly despicable one since Tillerson is a classic boy scout who has always abided by the rules even when he disagreed with them. It seems almost certain that the Treasury fines will be withdrawn when all the facts are known in the judicial hearings.

Lee Nason
New Bedford, Massachusetts
 
 
0 # chapdrum 2017-07-23 13:50
When Chevron's Richmond (CA) refinery blew up in 2012, that company was deemed at fault and was fined $1 million. Not only is that chump change, but corporate insurers ROUTINELY pay the majority of damage awards under what is known as "errors and omissions" coverage. The fines don't even scratch the surface of these endlessly coddled corporations.
 

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