09:04 AM EST, 11/03/2025 (MT Newswires) -- Exxon Mobil ( XOM ) and state-owned QatarEnergy executives have warned that they could stop doing business with the European Union, if the bloc does not significantly loosen its Corporate Sustainability Due Diligence Directive, Reuters reported Monday.

Exxon Mobil ( XOM ) chief executive officer Darren Woods told Reuters on the sidelines of a conference in Abu Dhabi that the EU's sustainability law could have "disastrous consequences" if adopted in its current form, the report said.

Qatar's Energy Minister Saad al-Kaabi, who also serves as CEO of QatarEnergy, told Reuters at the same event that they will be unable to continue doing business in Europe, if the EU does not change or cancel the law, the report said.

The EU's sustainability directive requires that companies doing business in Europe to address human rights and environmental risks across their supply chains, and aims to hold firms accountable for harm and could impose fines equal to about 5% of their global revenues, the report said.

Exxon Mobil ( XOM ) did not immediately respond to MT Newswires' request for comment.

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