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By banning ExxonMobil work in Arctic, the US deprives company of profits - Putin

"Most foreign companies at the recent Petersburg [International Economic] Forum were from the U.S.," Russia’s President continued. "Everyone wants to work in Russia."

DA NANG /Vietnam/, November 11. /TASS/. The U.S. measures of economic pressure on Russia, like, for example, banning Exxon Mobil work in the Arctic are harmful for the U.S. economy, Russia’s President Vladimir Putin told reporters after the APEC summit on Saturday.

"They have not allowed ExxonMobil work in our Arctic, simply have deprived it of an interesting and promising job, which could add to the US economic might, which could offer new jobs in the U.S., new revenues, tax payments and so forth. This is only one example, and the [limitations in the] financial sector and in others - there are many other examples," the president said. "Your place would be taken by competitors, this is unavoidable in the modern world."

"Most foreign companies at the recent Petersburg [International Economic] Forum were from the U.S.," he continued. "Everyone wants to work in Russia."

"And Russia also wants to have harmony relations with the U.S. not only in the economy, but also in the security," he added.

Earlier, due to the anti-Russian sanctions, ExxonMobil curbed nine of its ten joint projects with Rosneft on the Black Sea shelf, in the Arctic and in West Siberia. The company estimates losses at up to one billion dollars.

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