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.
Sign up for Today's Best Articles in your inbox
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.
Create an account with the same email registered to your subscription to unlock access.
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.
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Today's political cartoons - March 28, 2024
Cartoons Thursday's cartoons - a House divided, gambling in sport, and more
By The Week US Published
-
Israel concedes it may not be able to destroy Hamas
Speed Read Despite five months of war in Gaza, Israeli intelligence officials admit the militant group eludes them
By Peter Weber, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published
-
Immigration helped the US economy outpace peers
speed read The U.S. economy grew at an annualized rate of 3.2% last quarter
By Peter Weber, The Week US Published
-
4-day workweek gets boost from UK study
Speed Read Following a six-month trial, the majority of participating British companies are still using the truncated schedule
By Peter Weber, The Week US Published
-
US sues to block Kroger-Albertsons merger
Speed Read The Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants
By Peter Weber, The Week US Published