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ExxonMobil Given $2 Mln Fine for Breaching Anti-Russia Sanctions in Dealing With Sechin

Minale Tattersfield / Flickr

ExxonMobil has been handed a fine of $2 million for breaching anti-Russia sanctions, the Office of Foreign Assets Control (OFAC) said Thursday in an online statement.  

The American oil giant was found to have conducted business with Igor Sechin, the head of the state-owned Rosneft in May 2014.

Sechin was among top Russian officials to be blacklisted by the U.S. for Russia’s annexation of Crimea in 2014. The sanctions prohibit any business dealings with those listed.

According to OFAC, ExxonMobil deliberately failed to disclose its dealings to regulators in order to bypass the restrictions.

“ExxonMobil demonstrated reckless disregard for U.S. sanctions requirements when it failed to consider warning signs associated with dealing in the blocked services,” the statement said.

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