OFAC has announced a $415,350 settlement with Singaporean oilfield services company COSL Singapore, in respect of 55 apparent violations of US sanctions on Iran. COSL Singapore, through its subsidiary companies, is said to have exported or attempted to export oil rig supplies from the US to Singapore and the UAE, and from there to 4 separate oil rigs located in Iranian territorial waters.
OFAC determined that COSL Singapore had not voluntarily disclosed the violations, but that they constituted a non-egregious case.
Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...See profile for Michael O'Kane >