The US government seized nearly 1 million barrels of Iranian crude oil allegedly bound for China, according to newly unsealed court documents and a statement released by the Department of Justice on Friday.
They get fired for losing the company 100 million? They get a bonus for implementing a better way of doing the same thing the next 50 times? Dunno, I’m not an oil smuggling expert.
Not for the shipping company. It’s not their oil. The Iranians can ask the shipping company for compensation, which they could easily refuse and there isn’t much recourse that the Iranians would have. The Chinese could demand compensation but if the company again refuses or claims insolvency or whatever, it’s easier for the Chinese to just stiff the Iranians with payment instead.
A dream that won’t come true, these people only see this as part of the risk of doing business and will try again in the same way, hoping to not get caught, or will find a legal loophole.
"But the Suez Rajan case was unique at the time of the transfer because it was owned by the Los Angeles-based private equity firm Oaktree Capital Management. "
Great. You got me on a technicality. So it’s okay for any country to steal oil from another if that tanker, or it’s propeller, was once owned by the thieving country?
No. A LA based private equity company technically owned the boat at the time of transfer (they do not own it anymore, it’s been sold to the Greek company). That US based company is seemingly off Scott free in this situation and the Greek company is the one being fined and sanctioned.
They plead guilty to violating the IEEPA, which is a law we passed that says if we declare an emergency we can regulate whatever international commerce we feel like. The US being being wealthy enough that companies choose to comply so they can still have our business doesn’t make it right.
So…will they seize the companies assets and arrest the CEO for violating the sanctions?
Because that’s how you stop this shit.
Seizing over a hundred million of oil is a pretty big ouch to any business
For business sure. But what about consequences for the people who made the decisions?
They get fired for losing the company 100 million? They get a bonus for implementing a better way of doing the same thing the next 50 times? Dunno, I’m not an oil smuggling expert.
Not for the shipping company. It’s not their oil. The Iranians can ask the shipping company for compensation, which they could easily refuse and there isn’t much recourse that the Iranians would have. The Chinese could demand compensation but if the company again refuses or claims insolvency or whatever, it’s easier for the Chinese to just stiff the Iranians with payment instead.
A dream that won’t come true, these people only see this as part of the risk of doing business and will try again in the same way, hoping to not get caught, or will find a legal loophole.
The company is Greek.
Oaktree Capital Management doesn’t sound very Greek to me. Maybe it’s because the company is based in Los Angeles…
Your justifying piracy. It’s okay when we do it. But not when they do. How magnanimous.
The ship was owned by a US company:
"But the Suez Rajan case was unique at the time of the transfer because it was owned by the Los Angeles-based private equity firm Oaktree Capital Management. "
source
Great. You got me on a technicality. So it’s okay for any country to steal oil from another if that tanker, or it’s propeller, was once owned by the thieving country?
You want the United States to arrest someone in Greece for transporting oil from Iran to China? I don’t see how it’s any of our fucking business.
The company is based in Los Angeles you knob
So instead of putting the US capital investors in prison and seizing the assets of the equity firm, they seize the oil and fuck the greek company.
That is judiciary colonialism
Colonialism is defined here as “things I don’t like”
Good point
No. A LA based private equity company technically owned the boat at the time of transfer (they do not own it anymore, it’s been sold to the Greek company). That US based company is seemingly off Scott free in this situation and the Greek company is the one being fined and sanctioned.
AT THE TIME OF THE TRANSFER
Watch as he desperately reaches for straws!!
You literally said this yourself and then ignore that you did lmfao.
US jurisdiction, just cause they tried musical chairs or whatever is just nonsense of them trying to pull some shit. Case closed sis.
Seeing how they pled guilty and paid a 2.5 Million dollar fine and 3 years probation, I guess it was our fucking business.
They plead guilty to violating the IEEPA, which is a law we passed that says if we declare an emergency we can regulate whatever international commerce we feel like. The US being being wealthy enough that companies choose to comply so they can still have our business doesn’t make it right.