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.
The waiver would have impacted companies including Exxon Mobil (XOM) .
"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.
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