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Dismissal of Exxon Fine Could Trigger Guidance, and Silence, from US Treasury

By Daniel Bethencourt

A federal court's rare reversal of a U.S. sanctions penalty may prompt the Treasury Department to seek to avoid future legal challenges by issuing guidance more promptly, while also limiting what it says about its designations publicly, sources told ACAMS moneylaundering.com. On Dec. 31, U.S. District Judge Jane Boyle threw out a $2 million fine against ExxonMobil after finding that OFAC did not sufficiently describe the restrictions carried by the sanctions it imposed on seven officials and associates of Russia's President Vladimir Putin in April 2014. The group included Igor Sechin, chairman of the country's largest oil firm, Rosneft. Boyle's...

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