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ExxonMobil Admits $1b Lost

ExxonMobil Admits $1b LostExxonMobil Admits $1b Lost

The contracts with Russia’s biggest oil company Rosneft damaged by the West’s anti-Russian sanctions have cost ExxonMobil $1 billion, the company said in its annual report, RT reported. “In 2014, the European Union and United States imposed sanctions relating to the Russian energy sector. In compliance with the sanctions and all general and specific licenses, prohibited activities involving offshore Russia in the Black Sea, Arctic regions, and onshore western Siberia have been wound down. The Corporation’s maximum exposure to loss from these joint ventures as of December 31, 2014, is $1.0b,” the report said.

Financialtribune.com