Kenneth Rijock

Kenneth Rijock

Tuesday, July 23, 2013

US FINES HOUSTON TEXAS OIL DRILLING COMPANY FOR IRANIAN SANCTIONS VIOLATIONS


The United States is paying particular attention to US companies in the petrochemical sphere, as their goods and services can aid and abet the Iranian oil industry. A Houston, Texas company that shipped goods to the United Arab Emirates, and sought to ship more, was fined $84,420 by US Treasury, for multiple violations of Iranian sanctions.

The company acted "with reason to know that the shipments were intended specifically for supply, transshipment or reexportation, to an oil drilling rig located in Iranian waters." Readers can view the complete text on the OFAC website, under Financial Sanctions, at http://www.treasury.gov/

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