ExxonMobil fined for violating Russian sanctions under Rex Tillerson
13 replies, posted
[url]https://www.nytimes.com/2017/07/20/us/politics/exxon-mobil-fined-russia-tillerson-sanctions.html[/url]
[quote]The Treasury Department on Thursday fined Exxon Mobil $2 million for violating sanctions that the United States imposed on Russia in 2014 while Rex W. Tillerson, now the secretary of state, was the oil company’s chief executive.
The penalty was relatively small for the Treasury and a blip on Exxon’s mammoth balance sheet, but it came as controversy over Russia policy has engulfed Washington. The Trump administration is facing questions about Russia’s intervention in the 2016 election, and Congress has considered stiffening sanctions out of concern that President Trump will try to ease those already in place.[/quote]
[QUOTE]$2 million [/QUOTE]
Oof, ouch. The 7th biggest company in the world is certainly gonna feel that one
honestly i doubt $2m is gonna even matter to a company like this
2million is a fraction of one day's profit for ExxonMobil
[QUOTE=BrickInHead;52492096]2million is a fraction of one day's profit for ExxonMobil[/QUOTE]
One day? More like the past 5 minutes, ahhahahaaha
[editline]21st July 2017[/editline]
Actually did the math because I was curious, based on their 2016 profits, they make just under a million dollars per hour.
[QUOTE=ForgottenKane;52492107]One day? More like the past 5 minutes, ahhahahaaha
[editline]21st July 2017[/editline]
Actually did the math because I was curious, based on their 2016 profits, they make just under a million dollars per hour.[/QUOTE]
So they just got fined ~3 hours of profits.
Fuck the world, honestly.
[QUOTE=BrickInHead;52492096]2million is a fraction of one day's profit for ExxonMobil[/QUOTE]
It's 9.15e-4 percent of their [URL="https://www.google.com/finance?q=NYSE%3AXOM&fstype=ii&ei=61EXU7iCB8r_kAX7-wE"]2016 revenue[/URL]
i feel like with the rediculous profits from oil, 2mill is just written off as the cost of doing business, especially since they stood to make 1000x that
Fines that don't at least erase the profits from an illegal activity are effectively just bribes.
[QUOTE=Sableye;52493092]i feel like with the rediculous profits from oil, 2mill is just written off as the cost of doing business, especially since they stood to make 1000x that[/QUOTE]
If the representative has to go sign some papers in person for this, they'll probably spend more money on the flight over there.
Business fines should be levied at 100% of the money they made breaking the law plus extra.
[QUOTE=download;52494296]Business fines should be levied at 100% of the money they made breaking the law plus extra.[/QUOTE]
that or be forced to admit wrongdoing, make it the price to pay for willfully violating the law and potentially hurting people
whoa hold the fucking phone, so this guy is the secretary of state, who left his position as ceo of fucking exxonmobil, who has business ties with russia and direct ties to vladdy putin, doesn't support sanctions against russia?
[QUOTE=Pat.Lithium;52494486]whoa hold the fucking phone, so this guy is the secretary of state, who left his position as ceo of fucking exxonmobil, who has business ties with russia and direct ties to vladdy putin, doesn't support sanctions against russia?[/QUOTE]
ya
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