Exxon Escapes $2M Russia Sanctions Penalty

Law360 (January 2, 2020, 3:51 PM EST) -- A Texas federal court has invalidated the U.S. Department of the Treasury’s $2 million fine against ExxonMobil for violating Ukraine-related sanctions against Russia over an oil development deal, deciding Exxon wasn’t given proper notice of the policies’ details.

U.S. District Judge Jane J. Boyle said in a Dec. 31 ruling that the government had provided too little detail about whether the company’s contracts with the Russian oil company Rosneft violated the sanctions at the time they were executed.

The contracts were signed by Igor Sechin, a “specifically designated national” targeted by the sanctions who was president and chairman of the management...

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