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Dr Isabel Figuerola-Ferretti Garrigues
Dr Kostas Andriosopoulos And Dr Gürkan Kumbaroğlu
Energy International Risk Assessment
In 2014, US President Barak Obama imposed sanctions on Russia in the aftermath of the Ukraine crisis and Russia’s annexation of the Crimea.
In the run-up to 2014 sanctions, US oil giant ExxonMobil led by its then CEO Mr Rex Tillerson, and Russia’s oil giant Rosneft invested $3.2 billion in a project for drilling for oil in the Kara Sea in the Russian sector of the Arctic — a region that Rosneft estimated it could have more oil than the entire Gulf of Mexico. But the sanctions forced Exxon Mobil to halt drilling.
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