Latest Round of Russian Sanctions Hurts Putin – And Exxon Mobil

Dan Dicker, Senior Energy contributor at thestreet.com, talks with Brittany Umar about the latest round of sanctions taken against Russia for their part in the Ukraine crisis. These sanctions will limit the use of American technology and therefore put on hold the massive joint venture between Exxon Mobil (XOM) and Rosneft. Two huge projects are at risk, the 9 billion barrel Russian Arctic development and the Siberian shale exploration project. If sanctions last, both the Russian economy will suffer as well as the stock price of Exxon Mobil and a few other oil companies doing business in Russia.