The Wall Street Journal: Sanctions prompt Exxon to exit Russian projects brokered by Tillerson

Exxon Mobil Corp. is ending projects with Russia’s state-controlled energy giant, PAO Rosneft , because of international sanctions on Moscow, abandoning signature achievements of former chief executive, Secretary of State Rex Tillerson.

Exxon XOM, -2.27% said it decided last year to withdraw after the U.S. government imposed new sanctions on Moscow for its alleged interference in the 2016 presidential election. Those penalties came on top of U.S. and European sanctions on Russia over its actions in Ukraine.

The withdrawal for now marks the end of Exxon’s hopes of drilling in Russia’s Arctic ocean oil fields, considered one of the world’s great unexplored oil and gas basins.

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