Exxon Won’t Get Waiver on Russia Sanctions

Exxon will not receive a waiver on new sanctions banning American companies from doing business with Russia’s state-owned oil giant, Treasury Secretary Steve Mnuchin announced on Friday, just a day after the company applied for a waiver from the sanctions. “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,” Mnuchin said in a statement. Secretary of State Rex Tillerson is the former chief executive of Exxon-Mobil. He stepped down when he was nominated for the position.