Blogs12.5.24
OFAC Continues to Target German, Non-U.S. Entities for U.S. Sanctions Violations
On Dec. 3, 2024, the U. S. Department of Treasury's Office of Foreign Assets Control (OFAC) announced a $14,550,000 settlement agreement with Berlin, Germany-based Aiotec GmbH. According to OFAC, Aiotec apparently violated the Iranian Transactions and Sanctions Regulations (ITSR) by participating in a conspiracy to “cause” an unnamed U. S. company to indirectly sell and supply an Australian polypropylene plant to Iran, and for sending related payments to U. S. financial institutions.
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