OFAC settles apparent Cuba and Iran sanctions violations with oil services company, subsidiaries and affiliates
In a parallel action, Acteon, KKR & Co. Inc., and three of Acteon’s subsidiaries, Seatronics Ltd, Seatronics, Inc. and Seatronics Ptd. Ltd have agreed to pay $213,866 to resolve potential civil liability for 13 apparent CACR violations and three apparent violations of the Iranian Transactions and Sanctions Regulations, 31 CFR part 560 (ITSR). According to OFAC, between August 2010 and March 2012 Seatronics rented or sold oil exploration equipment for use in Cuban waters in violation of § 515.201 of the CACR, and in November 2014, the Abu Dhabi branch of Seatronics Ltd. rented or sold equipment to customers who appear to have delivered the equipment to vessels operating in Iranian territorial waters, in apparent violation of §§ 560.215 and 560.204 of the ITSR. The company also voluntarily disclosed the apparent violations to OFAC.
US Treasury Dept. press release | Settlement agreement | OFAC Enforcement information