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 The U.S. Department of the Treasury's Office of Foreign Assets Control Assesses a Civil Monetary Penalty Against ExxonMobil Corporation

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has assessed a $2,000,000 civil monetary penalty against ExxonMobil Corp. of Irving, Texas, including its U.S. subsidiaries ExxonMobil Development Co.and ExxonMobil Oil Corp. (collectively, "ExxonMobil"), for violations of § 589.201 of the Ukraine-Related Sanctions Regulations, 31 C.F.R. part 589 (Ukraine-Related Sanctions Regulations). 

Between on or about May 14, 2014 and on or about May 23, 2014, ExxonMobil violated § 589.201 of the Ukraine-Related Sanctions Regulations when the presidents of its U.S. subsidiaries dealt in services of an individual whose property and interests in property were blocked, namely, by signing eight legal documents related to oil and gas projects in Russia with Igor Sechin, the President of Rosneft OAO, and an individual identified on OFAC’s List of Specially Designated Nationals and Blocked Persons.

OFAC determined that ExxonMobil did not voluntarily self-disclose the violations to OFAC, and that the violations constitute an egregious case. 

For more information on this action, please visit the following web notice.
Last Updated: 7/20/2017 9:31 AM