Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

U.S. sanctions on Russia over its aggression in the Ukraine seek to stop billions of dollars worth of cooperation between Western and Russian energy companies on oil drilling in Russia's Arctic, in Siberia and offshore.

Reporting by Timothy Gardner