>
Article snippet: WASHINGTON — The $2 million fine that the Treasury Department levied on Exxon Mobil this week for violating sanctions against Russia is just a sliver of the oil company’s $7.8 billion in profit last year. But Exxon has decided nonetheless to wage a legal battle — one that could make President Trump’s cabinet meetings decidedly awkward. is suing the Treasury and Steven Mnuchin, the Treasury secretary, in hopes of getting the penalty withdrawn and its reputation cleared. The clash has created a new wrinkle in the intrigue that has captivated Mr. Trump’s Washington, and it has left some wondering why Exxon would fight over a paltry sum as a political furor over Russia swirls. “It’s a fascinating dynamic playing itself out,” said Peter Kucik, a former official in Treasury Department’s Office of Foreign Assets Control. “It would be difficult to script this.” The rationale for the lawsuit appears to go beyond the financial impact of the fine. Exxon feels that its reputation is at stake and that the threat of more sanctions, potentially costlier, is looming. Treasury and Exxon have been sparring for years over the company’s ability to do business with Russia. The Trump administration has recently been trying to show its mettle with a flurry of sanctions announcements amid concerns that Mr. Trump may soften those already enacted. At the same time, a Republican-controlled Congress is threatening to increase Russia sanctions, which could cost the energy industry billions o... Link to the full article to read more