Tag Archives | Embargoes

Schlumberger Subsidiary Pleads Guilty and Agrees to a $232.7M Penalty for Sanctions Program Violations

Drilling and Measurements (D&M), a Texas-based subsidiary of Schlumberger Ltd. was charged with providing oil field services to Iran and Sudan through overseas subsidiaries of Schlumberger Oilfield Holdings from early 2004 through June 2010.  D&M personnel outside the United States often sent emails to a U.S.-based D&M manager justifying requests for services in Iran and Sudan, […]

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PayPal pays $7.7M Fine for 486 Violations

Over the course of several years, PayPal did not adequately screen its transactions for targets of U.S. Proliferation and Trade Sanctions Programs, and processed transactions equaling approximately $43,000 to denied parties.  The company failed to properly screen transactions with OFAC-sanctioned companies and persons resulting in violations of trade sanctions against Iran, Sudan, and Cuba as […]

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Final Rule on Cuban Assets Control Regulations

On 16 January 2015, a final rule was published in the Federal Register detailing the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) amendments to the Cuban Assets Control Regulations.  These amendments are intended to implement policy changes announced by the President in December 2014, to further engage and empower the Cuban […]

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