Exxon Mobil (XOM) said today that it is abiding by the sanctions regarding Russia's energy industry, CNBC reports.
The testament from the oil conglomerate comes a week after the U.S. Treasury Department blocked its attempt to resume operations in banned parts of Russia.
"As everybody clearly knows the sanctions remain in place. I want to be very clear. We remain in full compliance of those sanctions and therefore not a whole lot is being done there, other than our assets on the east coast, which are not included in the sanctions," Exxon VP of investor relations Jeff Woodbury said.
Shares of Exxon Mobil were higher during midday 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 here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)