7224. 4/21/2017

CABINET/RUSSIA/TREASURY/TRUMP PEOPLE/STEVE MNUCHIN: ” ‘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 Friday. Mnuchin said he consulted with President Trump on the decision.
Exxon had applied for a waiver from sanctions imposed by the Obama administration in a bid to resume its lucrative joint venture with Russian state oil giant PAO Rosneft.
In a statement, Exxon said ‘we understand’ the decision by the Treasury Department. Exxon explained that its application for a license was aimed at meeting the company’s ‘contractual obligations’ in Russia, where competitors are allowed to drill under European sanctions.”

-Donna Borak and Matt Egan, “Trump denies Exxon permission to drill for oil in Russia,” CNN Money, CNN.com, April 21, 2017 3:33pm

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