The Bureau of Industry and Security has issued an order suspending for ten years the export privileges of (a) a California company convicted of willfully exporting and transshipping industrial parts used to maintain equipment in the steel manufacturing industry to Iran without first obtaining a license or written authorization from the Office of Foreign Assets Control despite knowing such a license or authorization was required and (b) the company’s sole owner. BIS is also revoking all export licenses in which this company and its owner had an interest at the time of their convictions.
As a result, until Feb. 6, 2022, neither this company and individual nor anyone on their behalf may directly or indirectly participate in any way in any transaction involving any commodity, software or technology exported or to be exported from the U.S. that is subject to the Export Administration Regulations.
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