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Schlumberger Oilfield Holdings fined $237.2million over sanction violations

A subsidiary of Schlumberger Oilfield holdings has been fined $237.2million after pleading guilty to sanction violations in both Iran and Sudan. The move comes after the oil well manufacturing company made the admission to the US Justice Department this week. The company also agreed to a three-year period of corporate probation, and during this time it will cease all operations in Iran and Syria.