Current location:International Issue news portal > sport
Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations
International Issue news portal2024-04-20 12:13:39【sport】1People 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.
Address of this article:http://www.olivelawfirm.net/tag/personal-injury-lawyers-florida/
Very good!(843)
Related articles
- Idaho group explores ballot initiative for abortion rights, reproductive care
- Paris Olympics opening ceremony on river Seine will last nearly 4 hours
- Man fleeing cops in western Michigan dies after unmarked cruiser hits him
- Olivia Dunne congratulates LSU teammate on winning top award ahead of semifinals meet
- Tesla recalling nearly 4,000 Cybertrucks because accelerator pedal can get stuck
- Caitlin Clark and Angel Reese are OVERPAID at $75k
- Average long
- Israelis grapple with how to celebrate Passover, a holiday about freedom, while many remain captive
- DEAR CAROLINE: Our son and daughter
- Zimbabwe frees prisoners, including those sentenced to death, in an independence day amnesty
Popular articles
Recommended
Hackers claim Belarus fertilizer plant infiltrated to demand political prisoner release
The iconic American rivers becoming so filthy with pollution they are 'endangered'
Jets might have a tough call to make between a playmaker or protection at No. 10 in the NFL draft
Closing arguments set in trial of an Arizona rancher charged in fatal shooting of unarmed migrant
Ed Westwick puts on a dapper display as he steps out with stunning fiancée Amy Jackson for star
Knicks' long
Protesting Spanish professor 'warned university' over Confucius Institutes — Radio Free Asia
Zimbabwe frees prisoners, including those sentenced to death, in an independence day amnesty
Links
- National Library of China Releases Databases for Dissemination, Study of Ancient Books
- Hiring Boom Boosts Manufacturing Rebound in 'World Factory'
- Farmers in NW China's Qinghai Celebrate Start of Spring Farming
- Diversified Markets Heat up China's Nighttime Economy
- As Population Grays, Average Life Expectancy Rises
- Grocery Store in Rural China Now Community E
- Farmers in NW China's Qinghai Celebrate Start of Spring Farming
- China Steadily Improves People's Wellbeing over Past 5 Years: Report
- Various Activities Held to Celebrate 'Pohui' Festival in S China's Guangxi
- Tea Industry Cultivated to Boost Local Farmers' Income in SW China