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Exxon Mobil loss illustrates harm of anti-Russian sanctions for US businesses — diplomat

March 01, 4:58 UTC+3 WASHINGTON

Exxon Mobil said will sustain net loss of $0.2 billion as a result of withdrawal from deals with Rosneft

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© AP Photo/Matthew Brown

WASHINGTON, March 1. /TASS/. Losses by Exxon Mobil, which earlier said it had to quit joint projects with Russia’s Rosneft, demonstrate how harmful Washington’s sanctions on Moscow are for US businesses, Russia's Trade Representative in the United States Alexander Stadnik said.

"The current events and all those sanctions are harmful for businesses in their own country, for their own American companies. And those figures are not the abstract calculations of the Russian defense industry’s alleged losses, recently announced by the US Department of State," Stadnik told TASS.

Exxon Mobil said in its annual report sent to the United States Securities and Exchange Commission (SEC) on Wednesday that it had to start the procedure of quitting joint oil prospecting projects with Russia’s Rosneft. According to the document, the company will sustain net loss of $0.2 billion as a result.

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