Oil company Exxon Mobil has made in a us court cancelled a fine of two million dollars for violating us sanctions against Russia.
the Court ruled that the U.S. government in 2014 gave the company enough time to roll the contracts with Rosneft, which broke sanctions imposed by the Obama administration. The penalty is recognized as illegal and cancelled, reports TASS.
Exxon, the world’s largest oil and gas company for the estimated value, came to Russia in the 1990-ies. Sanctions forced the company to postpone its Arctic plans. She began to get the losses from their current Russian projects such as the project “Sakhalin-1” and a number of joint ventures with Rosneft.
Exxon also lost future income. Only Arctic projects was estimated at $ 500 billion in total investment. The project is made especially attractive the promise of the head of “Rosneft” Igor Sechin that the company will be exempted from export duties and property tax.
But later the White house essentially ordered Exxon to drop everything and return home, banning the export of any technical know-how and equipment in the field of oil and gas production. At the beginning of 2015 year, seven months after the imposition of sanctions, damages, Exxon’s Russian operations reached a billion dollars.