http://www.washingtontimes.com/news/2014/aug/11/oil-and-gas-giants-sidestep-us-eu-sanctions-keep-d/?page=all

Oil giants sidestep sanctions, keep drilling with Russia
Exxon Mobil, BP, others have billions invested with world’s top energy producer

The West’s major oil companies have been seamlessly sidestepping sanctions imposed on Russia by the U.S. and European Union, for the most part pressing full speed ahead on joint ventures to drill for oil and gas with sanctioned Russian companies and executives.

http://www.usatoday.com/story/money/business/2014/07/31/exxon-mobils-second-quarter-earnings/13398785/

Exxon Mobil, the world's largest energy company, reported Thursday another dip in its global production of oil and gas that fell to its lowest level since 2009.
...
The company notes several new major projects. ... In Russia's Far East, it installed 42,000-ton topsides on a drilling rig known as Berkut in the Okhotsk Sea that it says will be the largest offshore oil and gas production platform in that country when it is slated to become operational late this year.

Rosenthal said he could not yet comment on how the Berkut platform could be affected by U.S. economic sanctions on Russia, because Exxon's waiting to get details on the sanctions, which are the result of Russia's incursion into neighboring Ukraine.