Jan 09, 2020 at 09:08 AM CST
|
|
---|---|
Oil and gas giant ExxonMobil Corp. (NYSE: XOM) recently achieved what many in the export compliance profession thought would be impossible. It won a federal court case against the Treasury Department’s Office of Foreign Assets Control (OFAC) to reverse a $2 million penalty for noncompliance. In July 2017, OFAC issued the penalty against ExxonMobil for alleged “reckless disregard” of the Ukraine Related Sanctions Regulations when the company in May 2014 entered contracts with Russian oil company Rosneft OAO. |