OFAC: Settlement Agreement for Iran Sanction Violations The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a $259,200 settlement with IPSA International Services, Inc. (IPSA) of Phoenix, Arizona. IPSA agreed to settle its potential civil liability for 72 apparent violations of the Iranian Transactions and Sanctions Regulations. The … [Read more...]
OFAC Reports $5.9 Million Penalty for Violation of Sanctions
OFAC Reports $5.9 Million Penalty for Violation of Sanctions The Office of Foreign Assets Control [OFAC] reported National Oilwell Varco,Inc., a Delaware corporation, and two subsidiaries have agreed to pay $5.98 million to settle their potential civil liability for apparent violations of the Cuban Assets Control Regulations, the Iranian Transactions and Sanctions … [Read more...]