The US has fined ExxonMobil $2 million for contracts with “Rosneft”

The US has fined ExxonMobil $2 million for contracts with “Rosneft”

WASHINGTON, July 20. /TASS/. The U.S. Treasury Department has fined ExxonMobil $2 million for violation of previously imposed anti-Russian sanctions. This is stated in a statement on Thursday the statement.

“Department of foreign assets control of the U.S. Treasury fined ExxonMobil Corp in the amount of $2 million” for violations associated with Ukraine, sanctions, the document says.

According to the Ministry of Finance, the violation of sanctions occurred on or about 14 may 2014 and continued until 23 may 2014, when the leaders of the American subsidiaries of ExxonMobil “doing business” with persons that are made in American black list, “that by signing eight documents associated with oil and gas projects in Russia, with the President of “Rosneft” Igor Sechin”.

The Ministry of Finance does not specify what particular transactions in question, however, in the time period specified on the website of “Rosneft” reported about signing of the agreement with ExxonMobil on the renewal of the strategic agreement for the implementation of the project “far Eastern LNG”. Signatures under the document have put the head of “Rosneft” Igor Sechin and President of ExxonMobil Development Neil Duffin.

Press Secretary of “Rosneft” Mikhail Leontyev said information about the signing of this agreement posted on the site for over three years and “it is impossible to imagine that the OFAC (office of foreign assets control – approx. TASS) didn’t know about it”. “And impossible to imagine, knowing how ExxonMobil that making some sort of a deal in the space associated with one or other of us sanctions, the company has not received information from OFAC lawyers that they act correctly from the point of view of us sanctions,” – said Leontiev.

Explanations of the authorities

The Ministry of Finance has reminded that on 28 April 2014 against Sechin were introduced restrictive measures in connection with events in Ukraine, and after that the Ministry, together with the White house published a statement in which it “clearly explained the regulations” introduced anti-Russian sanctions. “Despite these prohibitions, ExxonMobil has entered into agreements with blacklisted Sechin,” reads the statement. According to the Agency, ExxonMobil pointed out “different interpretations” of the documents of the Ministry. In addition, the Finance Ministry said that the American company did not want to “voluntarily inform the management about violations that became egregious case”.

However, the Agency “carefully considered the arguments presented by ExxonMobil” in this case. However, the Corporation, according to the authorities, “demonstrated a ruthless disregard for the requirements of the United States [compliance with] the imposition of sanctions”, were aware of the fact that Sechin is in the black list, “caused considerable damage to the objectives of the sanctions programs associated with [the situation] in Ukraine, and also works internationally and is regularly engaged in the supply of goods, services and technologies that fall under American economic sanctions.” All this resulted in the imposition of a penalty.

The sanctions include the blocking of property and accounts, as well as a ban on entry into the United States. American companies not to do business with individuals and entities subject to sanctions. However, in some cases, can be used softer measures, such as limiting funding for any period of time. The execution of sanctions imposed on the U.S. Treasury Department and the Department of Commerce in coordination with the Department of state.