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The money will be paid to the Americans by the National Commercial Bank of Saudi Arabia. An agreement has been reached between the US and the bank.
A statement from the US Treasury said the bank "agreed to pay $653,300 as a settlement of liability for 13 episodes of sanctions violations on Syria and Sudan".
The US agency explained that the Saudis had been fined for the period between 7 November 2011 and 28 August 2014, with transactions through the US system amounting to $5.9 million.
The Saudis' partners in Syria and Sudan were allegedly getting their hands dirty on this.
source: reuters.com
A statement from the US Treasury said the bank "agreed to pay $653,300 as a settlement of liability for 13 episodes of sanctions violations on Syria and Sudan".
The US agency explained that the Saudis had been fined for the period between 7 November 2011 and 28 August 2014, with transactions through the US system amounting to $5.9 million.
The Saudis' partners in Syria and Sudan were allegedly getting their hands dirty on this.
source: reuters.com