BIS and OFAC announce trade sanctions concerning exports to Iran 

October 19:   Recent U.S. trade sanctions concerning Iran include:
  • The Bureau of Industry & Security of the U.S. Commerce Department announced that a Tampa man was sentenced today to four years in federal prison for conspiracy to violate the International Emergency Economic Powers Act and the Iranian Transaction Regulations. According to court documents, between 2003 and the fall of 2011, the Tampa man conspired with others to unlawfully export approximately $15 million worth of computer and related equipment from the United States to Iran, in violation of the U.S. embargo.
  • The Treasury Department’s Office of Foreign Assets Control (OFAC) announced [PDF 13 KB] that a U.S. medical supply company, has agreed to pay $18,900 to settle potential civil liability for alleged violations of the Iranian Transactions Regulations. Specifically, OFAC alleged that on or about February 24, 2006, January 21, 2009, and March 20, 2009, the medical supply company exported goods or services to a person in a third country with knowledge or reason to know that such goods or services were intended specifically for transshipment to Iran, without authorization from OFAC. The alleged violations involved three transactions valued at $5,241.


For more information, contact a professional with KPMG’s Trade & Customs practice:


Douglas Zuvich

(312) 665-1022


Andrew Siciliano

(631) 425-6057


John L. McLoughlin

(267) 256-2614


Todd R. Smith

(949) 885-5617


Luis A. Abad

(212) 954-3094


Amie Ahanchian

(202) 533-3247


Or your local KPMG Trade & Customs professional.




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