Exxon Waiver to Drill in Russia Rejected by Treasury Department

Exxon has not been granted a waiver to bypass U.S. sanctions and partner with a Russian oil company to drill in the Baltic Sea.

In a one-page statement Friday, the Treasury Department announced that the decision was made in consultation with President Donald Trump.

“We will remain vigilant to make sure this egregious subversion of diplomacy for profit won’t happen through any other channels.”
—Cassady Craighill, Greenpeace USA”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,” the statement read.

Exxon released a statement saying it “understand[s] the statement today by Secretary Mnuchin in consultation with President Trump,” according to The Hill.

The State Department, which had a say in granting the waiver, is overseen by former Exxon CEO Rex Tillerson, and it is possible the decision to reject Exxon’s request was a response to widespread and bipartisan outrage over the waiver application.