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 … [Read more...]
West Coast Ports News
West Coast Ports News ILWU Caucus meets this week The International Longshore and Warehouse Union's caucus will meet this week in San Francisco, starting on Monday, to review the tentative agreement reached with the Pacific Maritime Association last month. If the Coast Longshore Committee recommends ratification, the tentative contract will be mailed to all ILWU members … [Read more...]
LA, LB ports – Status
LA, LB ports - Status Though Los Angeles-Long Beach terminal operators are moving vessels into and out of the ports a bit faster [3-4 days versus 5-6 days last week], there is still congestion since trans-Pacific liner services run weekly. As a result, 20 more vessels will arrive and will be added to 48 container ships already in port. They anticipate that the vessel backlog … [Read more...]
International Trade University ‘Free’ Webinar Series–Begins March 19
International Trade University 'Free' Webinar Series–Begins March 19 The U.S. Census Bureau is offering and hosting 10 FREE webinars this spring. These webinar topics includes: Foreign Trade Regulations Automated Export System Guidance on classifying your product Bureau of Industry and Security’s 600 series All of the instructors are international trade experts … [Read more...]
$1.45 Billion in Penalties for Transactions with Sanctioned Parties
$1.45 Billion in Penalties for Transactions with Sanctioned Parties The Justice Department announced $1.45 billion in penalties to a global bank headquartered in Germany and its New York branch for concealing hundreds of millions of dollars in transactions prohibited by U.S. sanctions laws on behalf of Iranian and Sudanese businesses. From DOJ: Commerzbank AG, a global … [Read more...]