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Exxon 'Business as Usual' in Russia Print E-mail
by Tom McGregor    Wed, May 28, 2014, 08:43 PM

Exxon Mobil CEO Rex Tillerson has disclosed that Obama sanctions on Russia have caused no negative impact on the corporation's business operations in Russia.

The Houston Chronicle reports that, "The CEO of Exxon Mobil says U.S. sanctions against Russian officials are having no effect on his company's activities there. Rex Tillerson also says that he is skeptical of sanctions and has discussed his view with U.S. government officials. Tillerson made the comments Wednesday after Exxon Mobil Corp.'s annual meeting."

CEO Tillerson is quoted as saying that, "There has been no impact on any of our business activities in Russia to this point, nor has there been any discernible impact on the relationship. The organizations continue to work business as usual."

According to the Houston Chronicle, "U.S. sanctions over Russia's annexation of Crimea have targeted close associates of Russian President Vladimir Putin, including the president of Russia's largest oil company, Rosneft, but not the company itself. Exxon has an exploration and production agreement with Rosneft in the Russian arctic and Siberia."

Exxon Mobil is a major player in the oil & gas sector of Russia.

To read the entire article from the Houston Chronicle, link here:

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