The Trump administration denies ExxonMobil's request for a sanction waiver to drill in Russia


The Trump administration has denied ExxonMobil's request for a waiver from U.S. sanctions to work with Russia, The Wall Street Journal reports. Secretary of State Rex Tillerson, who formerly served as Exxon's CEO, recused himself from the deliberations; the announcement was made by Treasury Secretary Steven Mnuchin.
The Wall Street Journal noted earlier this week that it is not clear whether Exxon applied for the waiver before or after Tillerson was confirmed as President Trump's secretary of state. Tillerson struck a deal with Russian oil company Rosneft in 2012 to drill in Russia's portion of the Black Sea, but the agreement was hampered by sanctions slapped on Russia in 2014 in response to the annexation of Crimea. Exxon is reportedly worried that if it isn't proactive, it "could get boxed out of the Black Sea," which may hold billions of barrels of oil.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
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.
Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.
-
5 apps to help with travel budgeting
The Week Recommends Track expenses while on the go
-
Emil Bove: The start of a MAGA judiciary?
Feature President Trump's former personal attorney is on the verge of being confirmed by Senate Republicans
-
ICE builds detention camps and ramps up arrests
Feature The Trump administration's deportation efforts continue
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement