KOCH PETROLEUM GROUP SETTLES ANTI-BOYCOTT ALLEGATIONS
Koch Petroleum Group, based in Wichita, Kan., and its Singapore subsidiary, Koch Refining International Pte. Ltd. have agreed to pay a $37,000 fine to settle allegations by the U.S. Commerce Department’s Bureau of Export Administration that the companies violated anti-boycott rules.
The U.S. anti-boycott rules prohibit U.S. persons, including foreign subsidiaries of U.S. companies, from complying with certain aspects of unsanctioned foreign boycotts. In addition, the anti-boycott rules require that U.S. persons report their receipt of certain boycott requests to BXA’s Office of Anti-boycott Compliance in Washington.
The agency found that Koch failed to report its receipt of boycott requests in 37 transactions between 1996 and 1999. The boycott requests involved prohibitions on the sale of crude oil to Israel from Brunei, Gabon, Indonesia, Nigeria, Oman, and the United Arab Emirates.