Current location:politics >>
Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations
politics2People have gathered around
IntroductionWASHINGTON (AP) — A Bangkok -based plastics firm has agreed to pay $20 million to settle with the U. ...
WASHINGTON (AP) — A Bangkok -based plastics firm has agreed to pay $20 million to settle with the U.S. over 467 “egregious” violations of Iran sanctions, the U.S. Treasury announced on Friday.
SCG Plastics Co. used U.S. banks to process $291 million in sales of Iranian high-density polyethylene resin from 2017 to 2018, according to the signed settlement agreement between the firm and Treasury’s Office of Foreign Assets Control.
The resin, used for product bottles and industrial items, was manufactured by an Iranian joint venture owned in part, by SCG Plastics’ parent company, SCG Chemicals and the National Petrochemical Company of Iran, which is a government entity.
The settlement states that SCG Plastics used “shipping and documentation practices that obfuscated the product’s Iranian origin and Iranian parties’ involvement,” which caused banks to unknowingly process transfers in violation of OFAC’s sanctions on Iran.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Stellar Sphere news portal”。http://www.havadist.com/tag/saglikcilar-promosyon
Related articles
Europe discards Arsenal and Liverpool shift focus to EPL title race
politicsLONDON (AP) — What will it take to win the English Premier League with six games remaining? That’s e ...
【politics】
Read moreBlossoms of Chinese Flowering Crabapple Boost Tourism in N China's Tianjin
politicsContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【politics】
Read moreChina's School Campuses Resume Liveliness As Spring Semester Kicks Off
politicsContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【politics】
Read more
Popular articles
Latest articles
LINKS
- Leonardo DiCaprio tipped to play Frank Sinatra in new Martin Scorsese biopic
- Doctors warn about the one skincare mistake that's ageing thousands of women under 30
- Choctaw artist Jeffrey Gibson is first Native American to represent the US solo at Venice Biennale
- Strong quake in southwestern Japan leaves 9 with minor injuries, but no tsunami
- Reuters photographer wins World Press Photo of the Year with poignant shot from Gaza
- Germany arrests 2 for allegedly spying for Russia, plotting sabotage to undermine Ukraine aid
- Ethnic army intercepts junta offensive on Thai
- US tourists trapped in Dubai traumatized by floods swamping the desert playground
- What does Europe want from China?
- Under mounting pressure, Biden opts to press for ceasefire in Gaza