COSL Singapore agrees to pay $415,350 for Iran Violations

COSL Singapore Ltd. is the leading integrated oilfield services provider in the offshore China market.

On 24th of August, 2017, the US department of Treasury' OFAC found, through two subsidiary companies, that COSL Singapore has violated Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560 (ITSR). They have agreed to pay $415,350 to settle potential civil liability for alleged violations.

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