U.S. Treasury won't waive Russia sanctions for oil companiesApril 22, 2017 - 10:09 AMT PanARMENIAN.Net - The U.S. Treasury on Friday, April 21 said it would not waive trade sanctions for U.S. companies seeking to resume oil drilling in Russia, including ExxonMobil, AFP reports. The announcement followed media reports that Exxon had sought a waiver to resume a joint venture with Russia's Rosneft oil company. "In consultation with President Donald J Trump, the Treasury Department will not be issuing waivers to U.S. companies, including Exxon, authorizing drilling prohibited by current Russian sanctions," the Treasury Department said in a statement. Having failed to win a waiver from the Obama administration in 2015, ExxonMobil began pressing the Treasury to grant an exemption in March, shortly after the company's former CEO Rex Tillerson became secretary of state, The Wall Street Journal reported Wednesday. Tillerson, who while with ExxonMobil had forged close relations with Russian President Vladimir Putin and with Rosneft, had recused himself from the decision. ExxonMobil has sought permission to drill in several areas that are currently off limits, including the Black Sea. The Trump administration has extensive ties to the energy sector and has vowed to promote oil exploration and production, slash regulations and allow for more development. In a statement, ExxonMobil said it understood the Trump administration's decision but underscored its position that it was hamstrung by the restrictions. "Our 2015 application for a license under the provisions outlined in the U.S. sanctions was made to enable our company to meet its contractual obligations under a joint venture agreement in Russia, where competitor companies are authorized to undertake such work under European sanctions," the statement said. The decision comes as relations between Moscow and Washington have soured in recent weeks following a U.S. missile strike in Syria in retaliation for a suspected chemical attack on civilians. Trump also remains in the glare of congressional and federal investigations into alleged Russian efforts to tip November's presidential elections in his favor. Trump eventually acknowledged the existence of election-related Russian cyber-attacks but denied that they had affected the outcome. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Government reveals details from Pashinyan’s meeting in border village Prime Minister Nikol Pashinyan has met with a group of residents of a border village in Armenia’s northern Tavush province Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. |