• U.S. oilfield services company pays $25 million for violations involving senior managers.
  • Aggressive enforcement continues even though restrictions have been eased.
  • It can take a long time to settle violations of U.S. sanctions and export issues.

Lest U.S. companies think that Cuba and Iran are entirely open for business, a U.S. government settlement announced earlier this month with National Oilwell Varco, Inc. (NOV), a U.S. oilfield services company, will serve as a stark reminder both of existing restrictions and – especially – the U.S. government’s intent to enforce those restrictions aggressively. (Even if doing so takes a long, long time.)

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