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ExxonMobil disagrees with US Treasury Department’s decision to assess fine

July 20, 18:45 UTC+3

ExxonMobil followed the clear guidance from the White House and Treasury Department, the company said

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© AP Photo/Virginia Mayo

WASHINGTON, July 20. /TASS/. US ExxonMobil disagrees with the action of the US Treasury Department imposing a $2 mln fine on it under the pretext of violations of sanctions introduced earlier against Russia, the oil and gas major said in its statement on Thursday.

"OFAC’s [Office of Foreign Assets Control of the US Treasury Department - TASS] action is fundamentally unfair," the company said. "ExxonMobil followed the clear guidance from the White House and Treasury Department when its representatives signed documents involving ongoing oil and gas activities in Russia with Rosneft - a non-blocked entity that were countersigned on behalf of Rosneft by CEO Igor Sechin in his official representative capacity," the corporation said.

"OFAC is trying to retroactively enforce a new interpretation of an executive order that is inconsistent with the explicit and unambiguous guidance from the White House and Treasury issued before the relevant conduct and still publicly available today," the company added.

No response was given so far to the question whether ExxonMobil leaves open the possibility to protest against the US Treasury Department’s action in court.

A $2 mln fine was imposed on ExxonMobil Corporation for violation of earlier introduced anti-Russian sanctions, the US Department of the Treasury said earlier on Thursday in its statement.

Violations of sanctions took place on or about May 14, 2014 and on or about May 23, 2014, the Department of the Treasury said.

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