Exxon Mobil, the company once ran by Secretary of State Rex Tillerson, is seeking a waiver from U.S. sanctions on Russia, The Wall Street Journal reported Wednesday.

The U.S. oil and gas corporation has applied to the Treasury Department to be exempt in a bid to resume its joint venture with the Russia oil giant PAO Rosneft in the Black Sea, the Journal reported, citing people familiar with the matter.

The newspaper said Exxon has been seeking permission to work with Rosneft in areas banned by U.S. sanctions. The State Department is one of the agencies that have a say on the waiver, the Journal said.

The news came as the FBI investigates any possible connections between the Trump campaign and Russia after the 2016 U.S. presidential election.

CNBC has reached out to Exxon and the Treasury Department for comment on the Journal's report.

Read the full story from The Wall Street Journal here.

—CNBC's Jacob Pramuk contributed to this report.