Exxon, BP Defy White House; Extend Partnership With Russia
by Tyler Durden
ZeroHedge.com
05/27/2014
Several of the largest oil companies in the world are doubling down in Russia despite moves by the West to isolate Russia and its economy. To be clear, the oil companies are not legally running afoul of international sanctions. But their collective shrug in the face of European and American pressure to boycott Russia – along with the $400 billion natural gas deal Russia signed with China last week – illustrates the difficulty with which the West will have at undermining Russia’s energy sector, if it chose to do so. Russia is too big of a prize for the likes of ExxonMobil, BP, and Shell. Or viewed another way, the moves to deepen business in Russia suggest that the world’s biggest oil companies are confident that the U.S. and Europe won’t be so bold as to truly attack Russia’s energy machine.
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