What the heck is cargo insurance and who needs it? Last year, TRG helped us understand more about customs bonds. This year they’re back by popular request to talk with us about cargo insurance! Cargo insurance plays a vital role in protecting your goods during transit, yet many businesses overlook its importance or misunderstand its application. In this webinar, TRG will provide a high-level overview of cargo insurance, focusing on the different types of coverage, key considerations, and the process of selecting the right policy for your needs. We’ll also delve into the intricacies of claims and how to ensure that your shipments are adequately protected from potential risks.
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
November 22, 2024/
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.
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