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Exxon sues U.S. over fine levied for Russia deal under Tillerson
LBN thread: Treasury fines Exxon Mobil $2 million for violating Russia sanctions while SoS Tiller was CEO
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Source: Reuters
#BUSINESS NEWS
JULY 20, 2017 / 10:13 AM / 3 HOURS AGO
Exxon sues U.S. over fine levied for Russia deal under Tillerson
Yeganeh Torbati and Ernest Scheyder
WASHINGTON/HOUSTON (Reuters) - Exxon Mobil Corp sued the U.S. government on Thursday, blasting as "unlawful" and "capricious" a $2 million fine levied against it for a three-year-old oil joint venture with Russia's Rosneft.
The U.S. Treasury Department on Thursday morning slapped the world's largest publicly traded oil producer with the fine for "reckless disregard" of U.S. sanctions in dealings with Russia in 2014 when Secretary of State Rex Tillerson was Exxon's chief executive.
The lawsuit and the Treasury's unusually detailed statement on Exxon's conduct represented an extraordinary confrontation between a major American company and the U.S. government, made all the more striking because Exxon's former CEO is now in President Donald Trump's Cabinet.
Exxon took the government to court despite the fact that the fine, the maximum allowed, would have a minor impact on the company, which made $7.84 billion in profit last year.
-snip-
JULY 20, 2017 / 10:13 AM / 3 HOURS AGO
Exxon sues U.S. over fine levied for Russia deal under Tillerson
Yeganeh Torbati and Ernest Scheyder
WASHINGTON/HOUSTON (Reuters) - Exxon Mobil Corp sued the U.S. government on Thursday, blasting as "unlawful" and "capricious" a $2 million fine levied against it for a three-year-old oil joint venture with Russia's Rosneft.
The U.S. Treasury Department on Thursday morning slapped the world's largest publicly traded oil producer with the fine for "reckless disregard" of U.S. sanctions in dealings with Russia in 2014 when Secretary of State Rex Tillerson was Exxon's chief executive.
The lawsuit and the Treasury's unusually detailed statement on Exxon's conduct represented an extraordinary confrontation between a major American company and the U.S. government, made all the more striking because Exxon's former CEO is now in President Donald Trump's Cabinet.
Exxon took the government to court despite the fact that the fine, the maximum allowed, would have a minor impact on the company, which made $7.84 billion in profit last year.
-snip-
Read more: http://www.reuters.com/article/us-exxon-mobil-usa-ukraine-idUSKBN1A51UH