Stolt Nielsen Probed for Trade Embargo Allegations

Thursday, May 22, 2003
Stolt Nielsen has reported that it is cooperating with a U.S. probe for alleged business dealings with Sudan and Iran. Stolt Nielsen Transportation Group (SNTG) is being probed by the U.S. Department of Treasury’s office for payment of incidental port expenses to entities in Sudan. According to the Wall Street Journal, which initially revealed the U.S. probe on May 20, records and legal documents show that ships owned by Stolt Nielsen or a joint venture were used for trade with Cuba, Sudan and Iran despite a U.S. trade blacklist. The U.S. attorney’s office in Connecticut has also launched an investigation regarding Stolt Nielsen’s trade practices. STNG made headlines earlier this year in February for an investigation conducted by the European Commission for alleged cartel agreement and related illegal practices for deep-sea maritime tanker services. STNG cooperated with the EC’s investigation, as well as a related investigation by the U.S. Department of Justice.
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