Sanctions forced ExxonMobil to abandon projects with Rosneft

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US oil company ExxonMobil decided to abandon joint projects with Rosneft due to US and EU sanctions against Russia.

According to the annual report of the US company, in 2013 and 2014 ExxonMobil and Rosneft created various structures for geological exploration and research. However, in 2014, the EU and the US imposed sanctions on the domestic energy sector, and in the second half of 2017 the US government expanded the list of restrictive measures against Russia.

"In connection with the foregoing, the corporation and its affiliates continue to comply with all applicable laws, rules and regulations. In late 2017, the corporation decided to withdraw from these joint ventures. The corporation expects to officially start withdrawal in 2018, "the document says.

As noted in the company, the American party's losses from such a decision could exceed $ 200 million.

Link: https://iz.ru/714830/2018-03-01/sank...ov-s-rosneftiu