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China-based Oil Firm Settles Iran Sanctions Violations, US Says

China-based Yantai Jereh Oilfield Services Group Co. Ltd. has agreed to pay more than $2.7 million to settle allegations it did business with Iran in violation of U.S. sanctions, the U.S. Treasury Department said Wednesday. The department cited the company for 11 "apparent" instances of moving oilfield-related items such as spare parts, coiled tubing strings and pump sets, and called it "an egregious case" since the Jereh Group did not...

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