Treasury Secretary Mnuchin said today that the government will not issue waivers to U.S. firms that would have authorized drilling prohibited by current Russian sanctions.
"In consultation with President Donald J. Trump, the Treasury Department will not be issuing waivers to U.S. companies, including Exxon, authorizing drilling prohibited by current Russian sanctions," Mnuchin said.
Shares of the Irving, TX.-based Exxon Mobil were moving lower on the report during early afternoon trading on Friday.
(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click hereto listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)