Saudi Arabia gets $653,000 fine from USA



12/29/2020 3:55 AM


The United States will receive $653,000 from the Saudis for violating sanctions on Sudan and Syria, the US Treasury said on 28 December.



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The money will be paid to the Americans by the National Commercial Bank of Saudi Arabia. An agreement has been reached between the US and the bank.

A statement from the US Treasury said the bank "agreed to pay $653,300 as a settlement of liability for 13 episodes of sanctions violations on Syria and Sudan".

The US agency explained that the Saudis had been fined for the period between 7 November 2011 and 28 August 2014, with transactions through the US system amounting to $5.9 million. 

The Saudis' partners in Syria and Sudan were allegedly getting their hands dirty on this.

source: reuters.com


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