Exxon has lost over $1 billion from Russian sanctions

‘Exxon has turned into a collateral victim of the US economic sanctions against Russia. So while supermajor BP’s chief executive Bob Dudley said earlier this week that he was “a little saddened” with the way the Deepwater Horizon movie has painted his company, Exxon’s Rex Tillerson has perhaps an even greater reason to be a little saddened.
Exxon, the world’s biggest oil and gas company by value, entered Russia in the 1990s and has enjoyed a long and fruitful presence there. This presence was set to expand further with Exxon’s plans to take part in the exploration and exploitation of the country’s Arctic shelf. Unfortunately for Exxon, the US and the EU hit Russia with sanctions over the annexation of Crimea and its support for Eastern Ukrainian rebels.’
Read more: Exxon has lost over $1 billion from Russian sanctions