For a decade, the industry fought bitterly against a basic anti-corruption rule to report their payments to foreign governments.
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But the current rule also allows companies to leave out key details. For example, Exxon, Chevron and other firms including Transneft, a Russian state-owned company, are partners in the Caspian Pipeline Consortium. CPC pays hundreds of millions of dollars in taxes and fines to Russian governmental authorities. These taxes help sustain the Russian economy, boost arms production and pay state officials’ salaries and pensions — thereby aiding the Russian war effort in Ukraine.
