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July 21, 2017

ExxonMobil Fined $2M for Russia Sanctions Breach Under CEO Tillerson
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The U.S. Treasury Department has fined Exxon Mobil $2 million for
violating U.S. sanctions against Russia three years ago, when Secretary
of State Rex Tillerson served as the oil company's CEO. The Treasury
said Exxon Mobil showed "reckless disregard" for U.S. law in 2014 when
it signed contracts with Russian oil magnate Igor Sechin to develop
offshore reserves in the Arctic. The move violated sanctions placed on
Russia after it invaded Ukraine and annexed the Crimean peninsula.
Tillerson said at the time his company opposed Russia sanctions, calling
them "ineffective." At the State Department Thursday, spokesperson
Heather Nauert was asked whether Tillerson had changed his views on
Russian sanctions.

Heather Nauert: "This all predates his time here at the Department of
State."

Matthew Lee: "I understand that."

Heather Nauert: "And so, I'm going to refrain from giving any comment on
that at this time."

Matthew Lee: "I understand this predates his time as secretary of state,
but now he is in a position in which he is part of the team that is
supposed to enforce sanctions, not violate them or allow others to
violate them, so I think it's relevant to know what he thinks about this
decision today."

Heather Nauert: "I think-I will say this. The secretary continues to
abide by his ethical commitments, including that recusal from
Exxon-related activities."

Secretary of State Tillerson is known to have close ties to Russian
President Vladimir Putin, who awarded Tillerson the country's Order of
Friendship decoration in 2013. The Treasury Department's $2 million fine
against Exxon Mobil was the maximum amount allowed by law. It represents
just over two hours' profit for the oil giant.