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Alexei Druzhinin / AP

ExxonMobil is asking the Trump administration for a waiver so it can return to work in Russia despite sanctions leveled after President Vladimir Putin invaded Ukraine in 2014.

In a scoop, the Wall Street Journal reports that the oil giant filed its waiver request with the US Treasury Department, and not the State Department, which is led by former Exxon CEO Rex Tillerson.

Why this matters: If granted, the waiver would erode one of the most powerful American levers against Russia in terms of getting it to pull back from Ukraine. Russia relies on oil and natural gas exports for a majority of its government income, but the current generation of oilfields will start to peter out in the coming decade.

The fields on which Exxon has been working—deepwater fields in the Arctic, and the Bazhenov shale in Siberia—are meant to carry the Russian economy starting in the 2020s and beyond. The waiver appears to cover work in the Black Sea, which is also a primary target of next-generation Russian interest. But it could be a wedge into a broader revival of work including the Arctic and the shale.

Go deeper

Updated 57 mins ago - Health

Texas to end all coronavirus restrictions

Texas Gov. Greg Abbott speaking at the White House in December 2020. Photo: Al Drago/Bloomberg via Getty Images

Texas will end its coronavirus restrictions next week with an upcoming executive order, Gov. Greg Abbot (R) announced Tuesday during a press conference in Lubbock.

Why it matters: After Abbott signs the new order, which rescinds previous orders, all businesses can open to 100% capacity and the statewide mask mandate will be over, though large parts of the state will remain under mask local ordinances.

Senate confirms Rhode Island Gov. Gina Raimondo as commerce secretary

Rhode Island Gov. Gina Raimondo (D). Photo: David L. Ryan/The Boston Globe via Getty Images

The Senate voted 84-15 on Tuesday to confirm Rhode Island Gov. Gina Raimondo to lead the Commerce Department.

Why it matters: The agency promotes U.S. industry, oversees the Census Bureau, plays a key role in the government's study of climate change through the National Oceanic and Atmospheric Administration, and evaluates emerging technology through the National Institute of Standards and Technology.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

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