Arab Today, arab today schlumberger fined 2327m for breaking iran sudan sanctions
Last Updated : GMT 04:23:09
Arab Today, arab today
Arab Today, arab today

Schlumberger fined $232.7m for breaking Iran, Sudan sanctions

Arab Today, arab today

Arab Today, arab today Schlumberger fined $232.7m for breaking Iran, Sudan sanctions

French-US oil services giant Schlumberger Ltd was fined $232.7m by Justice Department
Washington - AFP

French-US oil services giant Schlumberger Ltd. was fined $232.7 million by the Justice Department Wednesday for violating sanctions on Iran and Sudan.
Fully owned subsidy Schlumberger Oilfield Holdings Ltd. admitted guilt to one count of "knowingly and willfully conspiring to violate" the US International Emergency Economic Powers Act, under which US sanctions are applied, the department said.
According to the charges, the company's Texas-based drilling and measurements unit provided services to Iran and Sudan between 2004 and 2010 and tried to hide the fact from authorities.
While Schlumberger Oilfield Holdings, incorporated in the British Virgin Islands, was allowed to work in both Iran and Sudan, the Department said the US Drilling and Measurements unit was not.
Justice authorities said the company as well tried to hide the fact that the US unit was doing the work.
"Over a period of years, Schlumberger Oilfield Holdings Ltd. conducted business with Iran and Sudan from the United States and took steps to disguise those business dealings, thereby willfully violating the US economic sanctions against those regimes,” said John Carlin, US assistant attorney general for national security.
"The guilty plea and significant financial penalty in this case underscore that skirting sanctions for financial gain is a risk corporations ought not take," he said in a statement.
The penalty includes Schlumberger forfeiting $77.6 million of the unit's earnings from its Iran and Sudan business, and a $155.1 million criminal fine, the largest ever for a violation of the International Emergency Economic Powers Act.

 

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today schlumberger fined 2327m for breaking iran sudan sanctions Arab Today, arab today schlumberger fined 2327m for breaking iran sudan sanctions

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today schlumberger fined 2327m for breaking iran sudan sanctions Arab Today, arab today schlumberger fined 2327m for breaking iran sudan sanctions

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday