The Washington Times: Oil giants sidestep sanctions, keep drilling with Russia

The West’s major oil companies have been seamlessly sidestepping sanctions imposed on Russia by the U.S. and European Union, for the most part pressing full speed ahead on joint ventures to drill for oil and gas with sanctioned Russian companies and executives.

Russia remains the world’s top energy producer, despite the sanctions and an economic spiral into recession this year. Because Russia it is such an important player and fossil fuels remain in heavy demand worldwide, much is at stake for Exxon Mobil Corp., BP PLC, and other Western oil giants. They have invested billions of dollars into Russia with hopes of developing some of the world’s biggest and most promising oil and gas fields in the nation’s vast Siberian and Arctic wilderness areas.
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