Schlumberger subsidiary to pay US $ 1.4 million for violation of sanctions against Russia

The Office of Foreign Assets Control of the US Treasury reached a settlement agreement with Cameron, a US-based subsidiary of Schlumberger. Cameron agreed to pay $ 1.42 million amid accusations of supplying products in violation of the sanctions of the Russian company Gazprom Neft Shelf (subsidiary of Gazprom Neft). In particular, in the period from July 2015 to November 2016, top managers of Cameron working in the United States have approved contracts for their subsidiary Cameron Romania SRL for the supply of products to Gazprom Neft Shelf, which is subject to restrictive measures, the US Treasury said in a statement. The products, according to the Romanian subsidiary, were intended for a project in the Russian Arctic. Gazprom Neft Shelf holds a license to develop the Prirazlomnoye oil field. Prirazlomnoye is the only field on the Russian Arctic shelf where oil production has already begun. In order to settle its potential civil liability….

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