NEW YORK (AFP) – US energy giant ExxonMobil said Thursday that US and European Union sanctions against Russia had cost it $1 billion last year.In a securities filing, Exxon said the loss stemmed from suspending joint venture activities with Russian oil major Rosneft under the sanctions imposed in 2014 on the Russian energy sector.In compliance with the sanctions… prohibited activities involving offshore Russia in the Black Sea, Arctic regions, and onshore western Siberia have been wound down, it said.Exxon said its maximum exposure to loss from the Rosneft activities stood at $1 billion on December 31.The Western sanctions were imposed …read more
Source: Dunya TV
