DOJ: Company to Pay $232.7M for Violating US Sanctions Against Iran and Sudan
Schlumberger Ltd., the world’s largest oil-field services company, 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.
As part of a plea agreement with the Justice Department, Schlumberger will pay a $155.1 million criminal fine—the biggest criminal fine ever imposed for a U.S. sanctions violation—and forfeit $77.6 million in illegally obtained profits.
The agreement, which still needs court approval, caps a six-year investigation by the Justice Department and the Commerce Department.
Parent Company, Schlumberger Ltd., Also Agrees to Continue Cooperation With U.S. Authorities and To Hire an Independent Consultant to Review Its Sanctions Policies, Procedures and Internal Sanctions Audits
To read the entire DOJ press release
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