U.S. cosmetics company and senior executive agree to settle violations of Iranian sanctions

Settlement agreements related to apparent violations of the Iranian Transactions and Sanctions Regulations

Settlement agreements related to apparent violations of the Iranian Transactions and Sanct

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) today announced settlement agreements between OFAC and a U.S. cosmetics company and with a former senior executive of the cosmetics company related to apparent violations of the Iranian Transactions and Sanctions Regulations.

According to the OFAC release:

  • The cosmetics company agreed to pay over $3.3 million to settle its potential civil liability for one apparent violation of OFAC sanctions on Iran arising from an apparent conspiracy to export goods from the United States to Iran between 2009 and 2018.  OFAC determined that the apparent violation was egregious, and voluntarily self-disclosed.  
  • A former senior company executive separately agreed to pay $175,000 to settle their potential civil liability for three apparent violations of OFAC’s Iran sanctions that occurred between 2016 and 2017 when the individual appeared to have caused the company to export or reexport consumer goods to Iran and engaged in dealings related to the export or reexport of goods to Iran. OFAC determined that the U.S. person’s apparent violations were egregious, and not voluntarily self-disclosed.

Read the web notice [PDF 307 KB] and settlement agreement [PDF 268 KB]


For more information, contact a professional with KPMG’s Trade & Customs services:

Doug Zuvich
Partner and Global Practice Leader
E: dzuvich@kpmg.com

John L. McLoughlin
Principal and East Coast Leader
E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
E: sbrotherton@kpmg.com

Luis (Lou) Abad
Principal, Washington National Tax
E: labad@kpmg.com

Irina Vaysfeld
E: ivaysfeld@kpmg.com

Amie Ahanchian
E: aahanchian@kpmg.com

Christopher Young
E: christopheryoung@kpmg.com

Gisele Belotto
E: gbelotto@kpmg.com

George Zaharatos
E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
E: adoornaert@kpmg.com

Jessica Libby
E: jlibby@kpmg.com
John Anderson
Managing Director
E: johneanderson@kpmg.com
Jenna Leigh Glass
Managing Director
E: jennaleighglass@kpmg.com

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