OFAC fines National Oilwell Varco for sanctions violations

OFAC has fined US firm National Oilwell Varco (NOV), and its subsidiaries Dreco and Elmar, $5,976,028 in settlement of their civil liability for allegedly violating US sanctions on Iran, Cuba, and Sudan.  The settlement is concurrent with a settlement agreement between NOV and the Department of Commerce, and a Non-Prosecution Agreement (NPA) with the US Attorney’s Office for the Southern...

This content is for subscribers only

To continue reading please login or subscribe.

SudanSudan IranIran United StatesUnited States

About Michael O'Kane

For all site-related issues, including subscription and payment issues, please contact info@europeansanctions.com.
Michael is Senior Partner at Peters & Peters LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters & Peters LLP...

See profile for Michael O'Kane >