OFAC: $1.1 Million Penalty on U.S. Citizen for 75 Egregious Iran Sanctions Violations Involving Hotel Project

OFAC: $1.1 Million Penalty on U.S. Citizen for 75 Egregious Iran Sanctions Violations Involving Hotel Project

Office of Foreign Assets Control implemented a $1.1 million penalty on an anonymous US person for 75 violations of Iran sanctions. Between 2019 and 2022, that person executed a plan to purchase, reno, and operate a hotel in Iran. They were fully aware of US sanctions of Iran. OFAC determined that the violations were egregious, and the person did not disclose them.

Read More

Related Posts

BIS: U.S. Revokes License-Free Exports for Foreign Chip Fabs in China

In 2023, the Validated End-User (VEU) program was expanded to allow a select group of foreign semiconductor manufacturers to export most U.S.-origin goods, software, and technology license-free to manufacture semiconductors in China. No U.S.-owned fab has this privilege – and now, following today’s decision, no foreign-owned fab will have it either. Former VEU participants will…

DOF: Mexico Blocks Footwear in Maquiladoras and Plans Tariff Hikes on China

Recently Mexico announced their intent to not allow footwear into the Maquiladora. The headings for footwear were added to the list and published in the Gazette here. The Gazette shows a list of all headings not allowed in the Maquiladora. In addition, reports say Mexico’s government plans to increase tariffs on Chinese imports of cars,…

USCB: $2.2B in July Steel Imports, Slightly Up From June but Down Year-to-Date

The U.S. Census Bureau announced today that preliminary July steel imports were $2.2 billion (2.0 million metric tons) compared to the preliminary June totals of $2.1 billion (2.0 million metric tons). The July change in steel imports based on metric tonnage reflected decreases in reinforcing bars, wire rods, and blooms, billets, and slabs. Increases occurred…

U.S. Security Agencies Warn Researchers of Foreign Efforts to Illegally Obtain Sensitive Technology

U.S. national security agencies have issued new guidance urging universities and researchers to be vigilant against attempts by foreign governments, including China, to unlawfully acquire research and export-controlled technologies. The advisory highlights risks tied to foreign talent programs and international collaborations, while outlining steps researchers should take to avoid violating export laws. Read More