Treasury will not grant special permission to Exxon Mobil to carry out oil and gas drilling in Russia while sanctions remain intact.
The Trump administration maintains that none of these designations violate the Iran nuclear deal, NBC News reports.
Congress killed a controversial U.S. securities rule disclosure rule aimed at curbing corruption at big oil, gas and mining companies.
U.S. Senator Ben Cardin said he intends to vote against recommending ex-Exxon Mobile CEO Rex Tillerson to serve as secretary of State.
The legislation is sponsored by Republican Senator John McCain and Democrats Ben Cardin and Robert Menendez, all influential legislators.