Houston Co. Fined for Iran Deal
WASHINGTON (AP) _ A Houston company and its London affiliate have been fined nearly $1 million for exporting oil field processing equipment to Iran, the U.S. Commerce Department announced Tuesday.
The department assessed $86,000 in civil penalties against BS&B Process Systems Inc. of Houston and $32,000 against Black, Sivalls & Bryson in London, Michael Garcia, assistant commerce secretary for export enforcement, said in a news release.
An Oklahoma court had assessed criminal penalties last week, $414,000 for BS&B and $448,000 against its affiliate, the news release stated.
Although the Commerce Department denied the company export privileges for three years, it suspended that decision. The London affiliate’s privileges were denied for three years, with the prohibition suspended two of those three years.
The civil fines were assessed after an investigation by the Dallas office of the Bureau of Export Administration, that also included the Internal Revenue Service, U.S. Customs and other federal agencies.
A spokesman for the export enforcement bureau was not available and the company could not be reached for comment Tuesday evening.