Oilfield services firm Weatherford International will pay $253 million in fines to the U.S. government to settle charges that ranged from flouting sanctions against Iran and Syria to sending business partners on World Cup soccer junkets, officials said on Tuesday. Weatherford was charged with exporting oil and gas equipment to Iran, Syria, Sudan and Cuba in violation of sanctions, and exporting items controlled for nuclear nonproliferation reasons to Venezuela and Mexico. Charges against Weatherford, the smallest of the four main oilfield services firms, also include Foreign Corrupt Practices Act (FCPA) breaches and violations in the Iraq oil-for-food program.
via Business News - Yahoo Finance http://finance.yahoo.com/news/u-fines-weatherford-253-million-184137468.html
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