- Schlumberger (SLB +1.8%) has agreed to pay $232M for violating U.S. sanctions in Iran and Sudan, WSJ reports, in part of the government’s crackdown on companies doing business with countries the U.S. has declared off limits.
- The U.S. Justice Department reportedly will announce the plea deal later this afternoon, consisting of a $155M criminal fine - the biggest criminal fine ever imposed for a U.S. sanctions violation - and forfeiture of $77M in illegally obtained profits.
- The agreement would cap a six-year investigation by the Justice and Commerce departments.