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.
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.