The US Department of Justice revealed that Schlumberger will be subject to a three-year corporate probation, cease all operations in Iran and Sudan, meet sanctions-related disclosure requirements plus face a sanctions-related review from an independent consultant as part of a plea agreement.
“Over a period of years, Schlumberger Oilfield Holdings Ltd conducted business with Iran and Sudan from the United States and took steps to disguise those business dealings, thereby willfully violating the US economic sanctions against those regimes,” assistant attorney general for national security John Carlin said.
“Knowingly circumventing sanctions undermines their efficacy and has the potential to harm both US national security and foreign policy objectives. The guilty plea and significant financial penalty in this case underscore that skirting sanctions for financial gain is a risk corporations ought not take.”
US attorney Ronald Machen said it was a landmark case that put global corporations on notice.
“Even if you don’t directly ship goods from the United States to sanctioned countries, you violate our laws when you facilitate trade with those countries from a US-based office building,” he said yesterday.
“For years, in a variety of ways, this foreign company facilitated trade with Iran and Sudan from Sugar Land, Texas. Today’s announcement should send a clear message to all global companies with a US presence: whether your employees are from the US or abroad, when they are in the United States, they will abide by our laws or you will be held accountable.”
The case stemmed from a multi-agency US government investigation that started in 2009.
The oilfield services company has not said much so far.
“This plea fully resolves the investigation of the company, and we understand there is no ongoing investigation of company personnel," a Schlumberger spokesman said.
"The company cooperated with the investigation, and we are satisfied that this matter is finally resolved."
The Department of Justice said the plea agreement was contingent upon federal court approval.
