09:18 GMT +312 December 2019
Listen Live
    Schlumberger Corporation

    Oil Company to Pay $232Mln for Violating US Sanctions Against Iran, Sudan

    © REUTERS / Richard Carson
    Get short URL
    Iran's Nuclear Program Amid Western Sanctions (551)
    0 28

    A subsidiary of the world’s largest oilfield services company Schlumberger pleaded guilty to violating US sanctions against Iran and Sudan, and will pay more than $232 million in fines, the US Department of Justice said in a statement.

    WASHINGTON (Sputnik) — The company’s US employees provided technical oilfield services to Iranian and Sudanese operations for about seven years from offices in Sugar Land, Texas, and took steps to disguise dealings, the Justice Department said.

    “Schlumberger Oilfield Holdings Ltd (SOHL)… has agreed to enter a guilty plea and to pay a $232,708,356 penalty to the United States for conspiring to violate the International Emergency Economic Powers Act (IEEPA) by willfully facilitating illegal transactions and engaging in trade with Iran and Sudan,” the statement, issued on Wednesday, said.

    “Even if you don’t directly ship goods from the United States to sanctioned countries, you violate our laws when you facilitate trade with those countries from a US-based office building,” US Attorney Ronald Machen said in the statement.

    Aditionally, SOHL will be placed on a three-year probation period, according to the statement.

    The International Emergency Economic Powers Act, enacted in 1977, authorizes US Presidents to regulate commerce in response to any foreign threat to the United States. At present, more than a dozen countries, including Iran and Sudan, are subject to sanctions under the Act.

    Iran's Nuclear Program Amid Western Sanctions (551)
    sanctions, Sudan, Iran, United States
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik