Rex Tillerson, Trump's secretary of state pick, was a director of a U.S.-Russian oil firm in the Bahamas
President-elect Donald Trump's choice for secretary of state, ExxonMobil CEO Rex Tillerson, was a director of Exxon's Russian subsidiary, Exxon Neftegas, from its founding in 1998 until 2006, The Guardian reported Sunday, citing documents leaked to the German newspaper Süddeutsche Zeitung. The company is one of 67 registered by ExxonMobil in the Bahamas, a country with laws that favor corporate secrecy and a corporate tax rate of zero. Tillerson's name, RW Tillerson, is listed next to other officers from Houston, Moscow, and the far-eastern Russian island of Sakhalin.
Tillerson's role in the Russian-U.S. oil company doesn't break any laws, but it highlights his close ties to Russia's power elite (skewered by SNL), including President Vladimir Putin — who awarded him the Order of Friendship — and especially Igor Sechin, the former KGB agent who heads Russian state oil company Rosneft. Sechin is personally targeted under the sanctions the Obama administration enacted against Russia after it annexed Ukraine's Crimean peninsula in 2014; Tillerson publicly opposed the sanctions, which also hurt ExxonMobil's business partnerships with Russia. "ExxonMobil's use of offshore regimes — while legal — may also jar with Trump's avowal to put 'America first,'" The Guardian speculates.
Tillerson's confirmation rests first of all with the Senate Foreign Relations Committee, which is split 10-9 between Republicans and Democrats, with two of the majority Republicans expressing skepticism about Tillerson's close dealings with Russia — especially when combined with the Kremlin ties or public sympathies of several top members of Trump's campaign and incoming administration, including Trump's pick for national security adviser, Michael Flynn. The newest Trump selection, David Friedman for ambassador to Israel, also wrote a flattering article about Putin a year ago. If confirmed, Tillerson is expected to sell off his $218 million worth of Exxon stock.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Gaetz bows out, Trump pivots to Pam Bondi
Speed Read Gaetz withdrew from attorney generation consideration, making way for longtime Trump loyalist Pam Bondi
By Rafi Schwartz, The Week US Published
-
'The double standards don't trouble the critics'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
Today's political cartoons - November 22, 2024
Cartoons Friday's cartoons - frozen assets, blazing fires, and more
By The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published
-
Ports reopen after dockworkers halt strike
Speed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
By Peter Weber, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published