Published 12 days ago

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

SCG Plastics Co. Processed $291 million in sales of Iranian resin through U.S. Banks from 2017 to 2018, as per a settlement with the Treasury’s Office of Foreign Assets Control.
The resin, used for product bottles and industrial items, was manufactured by a joint venture involving SCG Plastics, SCG Chemicals, and the National Petrochemical Company of Iran.
SCG Plastics had "shipping and documentation practices" that hid the resin's origin, resulting in 467 violations of Iran sanctions. OFAC fined $20 million, absolving the company of further liability.

Insights by Ground AI

Does this summary seem wrong?

0 Articles

All

Left

Center

Right

Associated Press News

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

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...

13 days ago·United States

Read Full Article

abc News

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

A Bangkok-based plastics firm has agreed to pay $20 million to settle with the U.S. over 467 violations of Iran sanctions

13 days ago·United States

Read Full Article

KVIA

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

By FATIMA HUSSEIN Associated Press WASHINGTON (AP) — A Bangkok-based plastics firm has agreed to pay $20 million to settle with the U.S. over 467 violations of Iran sanctions. The U.S. Treasury announced the settlement on Friday. Treasury says the firm was engaging in a joint venture with an Iranian firm and giving “significant economic benefits” to Iran. The fines come as U.S. administration officials have announced plans to impose more sanctio…

13 days ago·Panama City, United States

Read Full Article

The Straits Times

US fines Thailand-based firm $27m for Iran sanctions violations

WASHINGTON - The United States fined a Thailand-based firm US$20 million (S$27 million) on April 19 for more than 450 possible Iran sanctions violations – a day after Washington slapped fresh sanctions on Iran following last weekend’s attack on Israel. Read more at straitstimes.com.

13 days ago·Singapore

Read Full Article

Bangkok Post

SCG unit fined $20m for evading US sanctions on Iran

A unit of Thailand-based SCG Chemicals Plc, part of the Siam Cement Group, has agreed to pay $20 million (735 million baht) to the United States to settle potential civil liability for violations of US sanctions on Iran, according to the US Treasury Department.

13 days ago·กทม, Thailand

Read Full Article

WPLG

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

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…

13 days ago·Miami, United States

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year

Coverage Details

Total News Sources0

Leaning Left2Leaning Right3Center8Last Updated12 days agoBias Distribution

62% Center

Bias Distribution

62% of the sources are Center

62% Center

Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

Sources are mostly out of (0)

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

0 Articles

0 Articles

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

US fines Thailand-based firm $27m for Iran sanctions violations

US fines Thailand-based firm $27m for Iran sanctions violations

SCG unit fined $20m for evading US sanctions on Iran

SCG unit fined $20m for evading US sanctions on Iran

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

Coverage Details

Bias Distribution

Ownership

Similar News Topics

Similar News Topics