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Russia sanctions cost ExxonMobil $1bn

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New York - US energy giant ExxonMobil said Thursday that US and European Union sanctions against Russia had cost it $1bn last year.

In a securities filing, Exxon said the loss stemmed from suspending joint venture activities with Russian oil major Rosneft under the sanctions imposed in 2014 on the Russian energy sector.

"In compliance with the sanctions... prohibited activities involving offshore Russia in the Black Sea, Arctic regions, and onshore western Siberia have been wound down," it said.

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