Forbes: Why Forcing ExxonMobil Out Of Russia Isn't Going To Help Anything

Putin’s relationship with Exxon’s Rex Tillerson is very likely the most constructive and meaningful one he has with any American. Wouldn’t it be better to forge more high-tech, high-level alliances with Russia rather than break up the few we have?

Those new sanctions imposed on Russia by the U.S. and Europe on Friday will, among other things, force Exxon Mobil, Royal Dutch Shell , Total and other big oil companies to wind up their joint ventures with Kremlin-controlled Rosneft and Gazprom .

Yes, Rex Tillerson and Vladimir Putin will have to put their famous “Bromance” on hold. That means a timeout on their pet project: drilling a wildcat exploration well in Russia’s arctic Kara Sea. So what? Do the sanctions-imposers really expect this to give Rex and Vlad agita? I don’t think so.

Earlier rounds of sanctions did nothing to cool Exxon and Rosneft’s ardor. Tillerson has appeared with CEO Igor Sechin at an energy conference. A month ago officials from Exxon and Rosneft met on Seadrill's West Alpha drilling rig about to start drilling the first Kara Sea prospect. Tuning in by video link, Putin declared, “Exxon Mobil is our old, reliable partner, and we greatly value our relationship.”
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