The company agreed to pay $950,000 to settle its potential civil liability for apparent violations of the Iranian Transactions and Sanctions Regulations (ITSR)
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.
BIS fines German company & issues 3 years suspended export ban for Iran sanctions violations
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.
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:
OFAC fined Warren Buffett’s company, Berkshire Hathaway, $4.2 million after its Turkish subsidiary (Iscar Turkey) knowingly violated the US sanctions against Iran.