March 30, 2015

Texas Lawyer quotes Ed Wilson on Schlumberger guilty plea in IEEPA violation

1 min

Venable partner Ed Wilson was quoted in a March 30, 2015 Texas Lawyer article on Schlumberger Oilfield Holdings' guilty plea for violating the International Emergency Economic Powers Act (IEEPA). The company agreed to pay a $232.7 million penalty to the federal government after admitting it willfully facilitated illegal transactions and engaged in trade with Iran and Sudan.

"Many cases involve shipping goods to sanctioned nations. What makes this case different is the size of the corporation, the duration of the offense, and the amount of knowledge within the company," said Wilson. "This decision is important because it involves Schlumberger providing oil field products that are critical to the Iranian economy. In addition this decision was released just before the March 31 deadline when the U.S.-Iran nuclear power negotiations are scheduled to be completed."