Region: Syria

Sanctions Docket: Santander denies reports of US breaches

In the latest sanctions round-up, Santander has denied a media report that suggested the lender breached US sanctions against Iran, while French prosecutors have charged Lafarge with sanctions evasion and financing terrorist groups.

15 February 2024

France upholds crimes against humanity charge against Lafarge

France’s highest court has greenlit the prosecution of cement manufacturer Lafarge for complicity in crimes against humanity over its alleged funding of terrorist groups including Isis.

16 January 2024

Microsoft to pay $3 million for sanctions, export controls violations

The technology company self-disclosed sales of its products to sanctioned entities in Cuba, Iran, Syria, Russia and Ukraine.

06 April 2023

UAE company, owner sued over alleged shipments to Syria and Iran

The company allegedly breached export control rules by purchasing IT equipment from US companies to re-sell in Syria and Iran.

07 November 2022

French cement producer to pay $778 million for ISIS payments

Lafarge and its Syrian subsidiary pleaded guilty to “unprecedented charges” related to payments it made to terrorists groups to protect a cement plant near the Turkish border.

18 October 2022

OFAC fines email gift card issuer

OFAC issued new guidance for businesses supplying “instant payment systems” after finding that Tango Card committed thousands of potential sanctions breaches, racking up a maximum penalty of $9.2 billion.

03 October 2022

Ericsson sued by US military members for financing al-Qaeda, Islamic State

After recently announcing an SEC investigation related to the company’s conduct in the Middle East, the telecommunications company faces a private suit from US military members accusing it of making “protection payments” to Al-Qaeda and the Islamic State.

08 August 2022

Freight company settles with OFAC for $6 million

OFAC said Toll Holdings’ compliance measures “failed to keep up with the pace and complexity of its growing operations”.

25 April 2022

Lafarge back on the hook for crimes against humanity in Syria payments case

France’s highest court has ruled that cement manufacturer Lafarge can be charged with complicity in crimes against humanity over its alleged funding of armed groups, including ISIS.

07 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

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