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Foreign Relations Iran Sanctions Enforcement Actions

The Volkov Law Group

OFAC Fines U.S. Person $1 Million for Multiple Violations of Sanctions Regime Against Iran

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In one of the more notable enforcement actions of 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently imposed a $1,104,408 civil penalty on a U.S. person for 75 separate violations...more

The Volkov Law Group

DOJ Resolves First Corporate Sanctions Case Involving Iran Sanctions Program

The Volkov Law Group on

The Justice Department has touted the upcoming wave of corporate prosecutions for criminal sanctions violation as the era of “The New FCPA.” DOJ’s reference is intended to communicate a strong message – companies are going to...more

The Volkov Law Group

Murad Pays OFAC $3.3 Million for Iran Sanctions Violations; Former Senior Executive Pays $175k

The Volkov Law Group on

Over an eight-year period ending in 2018, Murad, a U.S. cosmetics company, illegally exported goods and services to Iran in 62 separate transactions worth approximately $11 million.  Murad was acquired by Unilever United...more

Stikeman Elliott LLP

Canadian Sanctions Update: Recent Regulatory and Judicial Developments

Stikeman Elliott LLP on

In this post, we describe the economic sanctions imposed by Canada since our November 5, 2022 update, as well as Russian asset freezing order and a judicial decision in the sanctions law area. We expect more sanctions and...more

Stikeman Elliott LLP

Canadian Sanctions Update: Russia, Belarus, Iran and Haiti Face New Restrictions

Stikeman Elliott LLP on

In this post we describe the economic sanctions imposed by Canada since our October 5, 2022 update. While the latest sanctions on Russia, Belarus and Iran are largely incremental extensions of existing measures, a new...more

The Volkov Law Group

OFAC Collects $133k from a US Individual for Violations of Iran Sanctions Program

The Volkov Law Group on

In May 2019, OFAC released its Framework for a Sanctions Compliance Program.  OFAC announced that it intended to increase the prosecution of individuals for sanctions violations.  OFAC has brought two cases against...more

The Volkov Law Group

First Bank of Romania Settles OFAC Violations for $862,318 (Part IV of IV)

The Volkov Law Group on

The First Bank of Romania and JC Flowers agreed to pay OFAC $862,318 to settle violations of Iran and Syria Sanctions Programs.  First Bank is owned by its U.S. parent, JC Flowers & Company. ...more

The Volkov Law Group

SAP Reaches Broad Settlement and Agrees to Pay More Than $8 Million for Violations of Iran Sanctions Program (Part I of IV)

The Volkov Law Group on

In a precedent-setting agreement, the Justice Department, OFAC and the Bureau of Industry and Security announced a settlement with SAP SE for more than $8 million for numerous violations of the Iran Sanctions program....more

The Volkov Law Group

Nordgas Settles with OFAC As Part of UniControls Violations of Iran Sanctions Program

The Volkov Law Group on

The Treasury Department’s Office of Foreign Asset Control (OFAC)continues to pile up sanctions enforcement actions.  As the Biden Administration slowly takes over the reins of the Department of Treasury, OFAC enforcement is...more

The Volkov Law Group

UniControl Agrees to Pay $216,464 to Settle Case for Violations of OFAC’s Iran Sanctions Program

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UniControl, Inc., a Cleveland, Ohio manufacturer of process controls, airflow pressure switches, boiler controls and other instruments, agreed to pay OFAC $216,464 to settle its liabilities for violation of the Iran Sanctions...more

The Volkov Law Group

OFAC On A Roll: Whitford Worldwide Company Agrees to Pay $824k for Violations of Iran Sanctions

The Volkov Law Group on

When you are hot, you are hot.  (And when you are not, you are not; Thank you Jerry Reed, Country Singer).  OFAC is hot and resumed its enforcement streak, settling three enforcement actions in three weeks....more

American Conference Institute (ACI)

[Webinar] Latest Economic Sanctions Developments to Watch in 2020 and Beyond - May 14th, 1:00 pm - 2:00 pm EST

Join leading industry leaders who will discuss the latest developments in the economic sanctions regulatory landscape. They will share perspectives & insights on what’s going on, what’s ahead & what to watch out for....more

Robinson+Cole Manufacturing Law Blog

Connecticut Company Reaches Settlement With OFAC Regarding Alleged Iran Sanctions Violations

On February 21, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) entered into a settlement with Connecticut-based ZAG IP, LLC (ZAG) (formerly known as ZAG International, LLC) arising from...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Chalk one up for big Carl (and Darwin).  Xerox announced this weekend that it’s bowing to Icahn’s pressures and ending its $6.1 billion combination with Fuji....more

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