What they mean and how to pick one. Incoterms® were established by the International Chamber of Commerce (ICC) in 1921 and have become a crucial element in global trade, defining the responsibilities of buyers and sellers in international transactions. In this webinar, we’ll provide a high-level overview of Incoterms®, delve into their complexities, and simplify their application in various trade scenarios. You’ll gain a clear understanding of how to use Incoterms® to allocate risks and costs effectively, ensuring smoother international transactions.
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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