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The US Department of the Treasury fined CGG Services S.A a French company for violations of the Cuban Assets Control Regulations.
According to the report of the Office for Foreign Assets Control (OFAC) of the Department of Treasury, between 2010 and 2011, CGG Services S.A. provided services, spare parts and equipment of US origin for exploration of oil and gas to vessels while the vessels where operating in Cuba’s territorial waters. Which implies a violation of the United States economic sanctions against Cuba.
The report adds that the Venezuelan subsidiary of CGG U.S. carried out five transactions at the request of CGGVeritas France involving the processing of data from seismic surveys conducted in Cuba’s Exclusive Economic Zone benefiting a Cuban company.
The French company CGG Services SA, has agreed to pay $614,250 on its own and on behalf of its affiliated companies, to settle potential civil liability for alleged violations of the Cuban Assets Control Regulations.