It’s getting harder and harder to make any collaboration between the Trump administration and the Russian government stick. Late on Friday, the decision was announced that the United States would not make any exception for American companies, including oil mega-company Exxon Mobil Corp, seeking to drill in areas prohibited by U.S. sanctions on Russia.
The Treasury Secretary, Steven Mnuchin, said in a statement, “In consultation with President Donald J. Trump, the Treasury Department will not be issuing waivers to U.S. companies, including Exxon, authorizing drilling prohibited by current Russian sanctions.”
Media pundits were expecting a waiver of the sanctions for Exxon Mobil because of Secretary of State Rex Tillerson’s past role as CEO of the massive oil company. Exxon spokesman, Alan Jeffers, had no immediate comment on the Treasury Secretary’s statement. The company had previously declined to comment on the earlier Wall Street Journal article reporting that they were seeking permission from the U.S. government to drill in some areas in the Black Sea that had been banned by U.S. sanctions against Russia.
These economic sanctions were imposed on Russian by both the United States and the European Union because of Russia’s annexation of the Crimea region in 2014 and the role they played in the Eastern Ukraine conflict.
The Texas-based oil company stands to lose billions, if not trillions, of dollars because a waiver was not granted.
What do you think about this recent development? Does it confirm the end is near for any Trump/Putin alliance? How do you think Russia is going to respond?
Credit: Huffington Post