Blue chip companies pull back from Clintons

An Exxon Mobil spokesman said this week that the company has decided not to be involved in the Clinton Global Initiative this year. The oil company said its decision was unrelated to recent scrutiny of the foundation, but this is the first year it has not been a sponsor since 2009. Other sponsors, including Monsanto, are reevaluating their partnerships.

Some blue-chip companies that have long provided large donations to the Clinton Foundation are pulling back or reassessing their support.

Bill and Chelsea Clinton are convening foreign leaders here at a lush golf resort set in a palm grove this week to showcase their foundation’s charitable work. But the conference also highlights new controversies engulfing the Clinton family’s vast philanthropic enterprises as Hillary Rodham Clinton begins her presidential campaign.

A liberal human rights organization and several Republican lawmakers, for instance, are criticizing the Bill, Hillary and Chelsea Clinton Foundation for accepting donations from a Moroccan government-owned mining company, whose seven-figure sponsorship of this week’s gathering came amid growing scrutiny of foreign-government contributions to the charity.

This week’s flashy Morocco conference — a first-ever Africa and Middle East spinoff of the flagship CGI held each September in New York — underscores the foundation’s controversial fundraising practices, which have become a potential anchor on Hillary Clinton’s nascent campaign.

Source: Washington Post

Sanctions against Russia would affect Exxon and BP

The U.S. and European Union are poised to halt billions of dollars in oil exploration in Russia by the world’s largest energy companies in sanctions that would cut deeper than previously disclosed.

The new sanctions over Ukraine would prohibit U.S. and European cooperation in searching Russia’s Arctic, deep seas or shale formations for crude, according to three U.S. officials who spoke on condition of anonymity because the measures haven’t been made public. If implemented, they would affect companies from Dallas to London, including Exxon Mobil Corp. and BP Plc.

EU ambassadors met today and will resume deliberations tomorrow in Brussels on whether to trigger added sanctions or wait longer to see if a cease-fire holds between Ukraine and pro-Russian separatists and if Russia backs moves toward a longer-term agreement.

Once the EU implemented the new ban on sharing energy technology and services, the U.S. would follow suit with a similar package, including barring the export of U.S. gear and expertise for the specialized exploration that the Russians are unequipped to pursue on their own, the U.S. officials said.

EU governments agreed on these oil-related sanctions on Sept. 8 as part of a wider package of measures intended to hobble Russia’s finance, defense and energy industries, pending evaluation of the cease-fire declared in Ukraine last week, according to two European officials who also spoke on condition that they not be named.

Source: Bloomberg