The head of Exxon Mobil Russia: We are ready to dramatically increase the investment in Russia, if we find oil in the Arctic.

Exxon Mobil will be forced to shut down its operations in Russia in case of the tougher sanctions against Russia by the U.S. government, Glen Waller, the president of Exxon Mobil Russia, told reporters in Khabarovsk.

"We will have to comply with the order of the government. We look at the current situation and hedge our risks, but we did not count the potential loss from the situation of strengthening the sanctions, because it is impossible to calculate the situation. We consider the sanctions, but look forward to cooperating with Russia in the oil area in far into future