Exxon Mobil is complying with all U.S. sanctions against Russia, but they are certainly not going out of their way to appear patriotic about it.
Exxon is America's second-largest company and one of the largest oil companies in the world. They have numerous dealings with all of the world's major players in oil, including Russia's Rosneft, which is lead by the recently sanctioned Igor Sechin. On a conference call with investors and analysts on Thursday morning, David Rosenthal, Exxon's head of investor relations in the United States, said that Exxon plans to comply with all U.S. and European Union sanctions against Russia.
As the sanctions are currently written, Sechin is barred from entering the United States, but U.S. companies can continue working with his company, Rosneft, from afar. The sanctions are deliberately vague, and even a bit confusing. One U.S. Treasury spokeswoman said "U.S. persons cannot do business with sanctioned people or entities," though another clarified the "U.S. companies can still do business with Rosneft." Just not their CEO, somehow.
Exxon noted that "expansion projects planned in Russia for this year are proceeding normally." One of the largest projects is the drilling of the Russian Arctic Kara Sea, which has thus far cost Exxon $600 million (more than triple the norm.) The estimated return, however, is $900 billion based on the current price of oil, as the drilling should bring in nine billion barrels of oil.