ExxonMobil has launched a legal challenge against the US Treasury after being fined USD 2 million for allegedly violating Russian sanctions in its dealings with state-owned Rosneft in 2014 – when US Secretary of State Rex Tillerson was at the helm of the US major.
The Treasury’s Office of Foreign Assets Control (OFAC) said eight Russian oil and gas contracts signed with Rosneft president Igor Sechin amounted to an “egregious” breach of Ukraine-related sanctions.
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