Region: Iran, Islamic Republic of

OFAC penalises Texas video production company over Iran sales

OFAC said that NewTek erroneously believed that it could sell its products to Iran provided they weren’t shipped directly to the country.

10 September 2021

US sanctions enforcer dings Romanian bank and US private equity company

OFAC said that the issue stemmed from First Bank’s erroneous belief that US sanctions don’t apply to companies operating outside the country.

31 August 2021

Iron Mountain reports data destruction in US sanctions probe

Information management company Iron Mountain says that it has mistakenly destroyed material related to a US sanctions probe focused on its dealings with Iranian entities.

09 August 2021

US food safety company reports US sanctions probe

Food safety company Neogen says that it is under investigation by the Treasury Department over potential violations of US sanctions on Iran.

02 August 2021

Alfa Laval sanctions case gives foreign companies reason to be nervous

The US Treasury Department’s recent case against the UAE-based subsidiary of a Swedish heavy industries company signals an increasingly aggressive approach towards foreign companies involved in sanctions-busting schemes.

27 July 2021

OFAC investigates crypto finance company

Cryptocurrency finance company Circle Internet Financial is under investigation by the Treasury Department for potential violations of US sanctions, including on Iran.

20 July 2021

US sanctions agency fines Swedish company over Iran sanctions breaches

The Middle Eastern arm of Sweden’s Alfa Laval was penalised for misleading a separate unit of the company into illegally shipping goods to Iran.

19 July 2021

Report: SFO Petrofac investigation looking at alleged bribery in nine countries

21 June 2021

US package forwarding company dinged for illegal exports

The US Commerce Department has fined a Portland-based package forwarding company and ordered it to appoint an external compliance auditor for illegally shipping rifle scopes to Iran and China.

18 June 2021

Alliance Steel settles with OFAC over dealings in Iran

The Oklahoma company said it was not attuned to OFAC regulations because it primarily operates in the US. OFAC said it is “particularly important” for US businesses to understand the sanctions risk of doing business in countries such as Iran.

19 April 2021

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