On top of all the various countries, including China, that have signed new deals with Russia, even US and UK companies are ignoring the "sanctions" mentality being urged by the very weak and mistaken-on-Russia Obama administration.
Exxon Mobil Corp. (XOM:US), the largest U.S. oil company, went ahead with a deal to deepen its ties with Rosneft yesterday, even after the Obama administration urged American CEOs to skip Putin’s annual economic showcase. Exxon sent Neil Duffin, head of the Irving, Texas-based company’s development unit, to sign an accord with Sechin that involves drilling for crude in the Arctic and Siberia and liquefying natural gas for export.
BP signed its first accord with Rosneft since the Moscow-based company’s $55 billion acquisition of BP’s TNK-BP venture with a group of billionaires last year. BP, based in London, agreed to $300 million of financing for a joint development of deposits near Kazakhstan.