After accusations of violating sanctions on Russia, Exxon won’t have to pay US sanctions fine
“ExxonMobil acknowledges the court’s decision, which confirms we complied with the applicable sanction,” an Exxon spokesperson said in a statement.
Judge Jane Boyle said the Treasury’s Office of Foreign Assets Control (OFAC) did not give Exxon sufficient notice between the time it started doing business with Rosneft and when the sanctions against its chief executive, Igor Sechin, were issued, Bloomberg reported Tuesday.
Despite ending its business with Rosneft, Exxon argued against the Mnuchin’s fines, saying sanctions were issued against Sechin personally, not the state-run oil company he worked for, though Sechin did sign the business deal between the two companies, according to Bloomberg.
Exxon said Mnuchin’s interpretation of the 2014 sanctions violated the Administrative Procedure Act because it was “arbitrary and capricious,” Bloomberg reported.