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ExxonMobil's exit from joint projects with Rosneft was expected — spokesman

The decision to withdraw from joint projects with Rosneft was made in late 2017 after the United States expanded sanctions against Russia

MOSCOW, March 1. /TASS/. ExxonMobil’s exit from joint projects with Rosneft was expected, Rosneft Press-Secretary Mikhail Leontyev told TASS.

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

"It is nothing new. Unfortunately, it was an expected event related to sanctions. ExxonMobil is forced to do this," he said.

It was reported earlier that ExxonMobil intended to initiate a withdrawing procedure from joint projects with Rosneft in the search for oil fields in 2018 due to anti-Russian sanctions.

The decision to withdraw from joint projects with Rosneft was made in late 2017 after the United States legislated and expanded sanctions against Russia in the second half of 2017. ExxonMobil and its subsidiaries said they would comply with all legal requirements, rules and regulations. The decision to withdraw will result in net losses of $0.2 bln, according to the company's report.

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Top stories from the Russian press on Tuesday, December 3rd