Category: OFAC

Italian Company to Pay $950,000 for selling US-Origin Parts to Iran

The company agreed to pay $950,000 to settle its potential civil liability for apparent violations of the Iranian Transactions and Sanctions Regulations (ITSR) Members-only content. While the blog operates on a free-to-view basis, your registration is required in order to read all of the… Continue Reading “Italian Company to Pay $950,000 for selling US-Origin Parts to Iran”

US Sanctions: 4.5 Years in jail and $250k fine for man who provided charter flights to Maduro’s entourage

A man was sentenced in the US this week to 55 months in prison for his connection with a scheme to provide private charter flights to members of former Venezuelan President Nicolás Maduro’s inner circle. Members-only content. While the blog operates on a free-to-view… Continue Reading “US Sanctions: 4.5 Years in jail and $250k fine for man who provided charter flights to Maduro’s entourage”

USA: BIS fines German Aircraft Services provider, suspends export privileges for procuring parts to Iran

BIS fines German company & issues 3 years suspended export ban for Iran sanctions violations Members-only content. While the blog operates on a free-to-view basis, your registration is required in order to read all of the content. To continue reading, please login or Register… Continue Reading “USA: BIS fines German Aircraft Services provider, suspends export privileges for procuring parts to Iran”

INDONESIAN COMPANY FINED $1M BY OFAC AND $1.5M BY THE DOJ FOR SELLING CIGARETTE PAPERS TO NORTH KOREA

The long reach of U.S. law continues to affect persons, and companies around the world. Another non- U.S. company held liable by U.S. Authorities for not having a sanctions compliance program. Members-only content. While the blog operates on a free-to-view basis, your registration is… Continue Reading “INDONESIAN COMPANY FINED $1M BY OFAC AND $1.5M BY THE DOJ FOR SELLING CIGARETTE PAPERS TO NORTH KOREA”

In case you missed it, post holidays US Compliance roundup

As 2020 came to a close, our friends in the U.S. have bestowed a few compliance “holiday gifts” upon us… so just in case you missed it, here’s what has been put under our tree: Members-only content. While the blog operates on a free-to-view… Continue Reading “In case you missed it, post holidays US Compliance roundup”

OFAC fines Warren Buffett’s Berkshire Hathaway $4.2 million for Iran sanctions violations

OFAC fined Warren Buffett’s company, Berkshire Hathaway, $4.2 million after its Turkish subsidiary (Iscar Turkey) knowingly violated the US sanctions against Iran. Members-only content. While the blog operates on a free-to-view basis, your registration is required in order to read all of the content. To continue reading, please… Continue Reading “OFAC fines Warren Buffett’s Berkshire Hathaway $4.2 million for Iran sanctions violations”