The U.S. Treasury Department on Thursday said it was fining global oil company ExxonMobil Corp $2 million for violating sanctions on Russia in May 2014. The heads of the company’s U.S. subsidiaries signed eight documents between May 14 and May 23, 2014 with Igor Sechin, the head of Russia’s largest oil producer, Rosneft, Treasury’s Office of Foreign Assets Control said in a statement on its website.
Sechin had been blacklisted by the United States just weeks earlier. The Treasury unit, which enforces sanctions, found ExxonMobil had not voluntarily self-disclosed the violations, “and that the violations constitute an egregious case.” Rex Tillerson, ExxonMobil’s chief executive at the time of the dealings, is now U.S. secretary of state. The State Department referred questions about the fine and Tillerson’s knowledge of the dealings to Exxon Mobil.
ExxonMobil’s profit last year was $7.8 billion.