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$10.5 Million Penalty for Violating Embargo Against Iran

Thursday, June 09, 2016
Sandler, Travis & Rosenberg Trade Report

The Bureau of Industry and Security has issued an order fining a Dutch company $10.5 million to settle charges that it committed 253 violations of the Export Administration Regulations over a five-year period. The alleged violations include knowingly shipping items controlled for national security, missile technology or anti-terrorism reasons to Iran without the required authorization; employing schemes to evade the U.S. embargo against Iran and avoid detection by the U.S. government; providing goods and services to Iran Air in violation of a BIS temporary denial order against that company; and exporting controlled items to Sudan without the required license.

BIS states that this order takes into consideration the company’s deferred prosecution agreement with the Department of Justice and its settlement agreement with the Treasury Department’s Office of Foreign Assets Control. If the company fails to comply with either of those agreements or pay the penalty in full BIS may suspend its export privileges for one year.

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