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US Treasury Secretary Steven Mnuchin said on Friday that the Trump administration had decided not to grant Exxon Mobil’s request for a waiver from US sanctions on Russia.

The company’s request would have permitted it to resume drilling in the Black Sea together with the Russian oil giant Rosneft, which is majority-owned by the government of Vladimir Putin.

Mr Mnuchin’s announcement came in a one-sentence news release, which said the decision had been reached “in consultation with President Donald J Trump.” Exxon had filed its waiver request during the Obama administration when the company’s CEO was Rex Tillerson, Mr Trump’s secretary of state.

News of Exxon’s waiver request earlier this week prompted immediate opposition from some lawmakers, such as Senate Armed Services Committee chairman John McCain of Arizona.

Copyright The Financial Times Limited 2017. All rights reserved.
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