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ExxonMobil to pay $2M for violating OFAC sanctions

Irving, TX
07/20/2017
Fine Amount: 
$2,000,000
Penalty Type: 
Issued by: 

OFAC has announced that ExxonMobil Corp., of lrving, Texas, including its U.S. subsidiaries ExxonMobil Development Company and ExxonMobil Oil Corp. (collectively, "ExxonMobil"), has been assessed a civil monetary penalty of $2,000,000 for violations 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 ยง 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 (the "SDN List").

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