A settlement agreement to resolve potential civil liability for 82 apparent violations
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today issued a release announcing a settlement agreement involving a Minnesota-based global transportation and logistics company, which agreed to pay $257,690 to resolve potential civil liability for 82 apparent violations of the Iranian Transactions and Sanctions Regulations and the Cuban Assets Control Regulations.
The case involved the company's non-U.S. subsidiaries, which, over a period of more than three years, provided freight brokerage or transportation services for 82 shipments involving Iranian- or Cuban-origin goods or dealing with an Iranian airline.
The violations were considered non-egregious and were voluntarily self-disclosed by the company.
Read the enforcement release (December 13, 2024)