Thai chemical company settles ‘apparent violations’ of Iran sanctions for $20m
SCG Plastics engaged in deceptive practices to obfuscate origins of Iran-made HDPE, according to Ofac
Ofac says SCG Plastics caused US financial institutions to unknowingly process $300m in sales of Iranian high-density polyethylene resin by falsifying shipping documents, with the settlement underscoring the agency’s intent to penalise companies that conceal such activity by sanctioned entities