Exxon Denied, But Why? 

The Wall Street Journal this week reported that Exxon filed paperwork requesting to bypass 
sanctions against Russia in order to proceed with their oil deal with Russian oil company Rosneft. 

Although paper work had been authorized for Exxon’s request, Treasury Secretary Stephen Mnuchin today denied the request. 

Exxon has said in regulatory filings that the sanctions could lead to losses of up to $1 billion. Every other source values the deal between the two companies at $500 billion.

Former Exxon CEO, and current Secretary of State Rex Tillerson recused himself from any matters involving Exxon for the next two years. In 2014 Tillerson lobbied against Russian sanctions because they interfered with this deal with Russia. 

While many view today’s refusal to lift sanctions as a reason to cheer, I can’t help but view it sceptically. Mnuchin, (former CEO of OneWest Bank, aka “foreclosure king”) made his decision only after consulting Trump. 

This is a distraction, another case of smoke and mirrors from the Trump administration. Trump is waiting for better timing, hoping the country has a short memory, hoping the federal investigation into his ties to Russian will fizzle out. Is the plan to wait until Tillerson’s 2 year recusal has expired? 

This is all conjecture on my part, so celebrate if you like, but consider this—the $500 billion dollar oil deal is the reason Putin put Trump in the White House, and it’s the reason Tillerson is in the State Department, and it’s the reason Mnuchin is Treasury Secretary—my opinion. 

Why the sanction bypass was denied at this time is not clear, but Donald Trump denied the request for a reason. This is a calculated move, but it’s only a postponement of an inevitability. 

<a href=”https://dailypost.wordpress.com/prompts/spike/”>Spike</a&gt;

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