U.S. company settles Iran-related sanctions violations 

March 22:   The Treasury Department’s Office of Foreign Assets Control (OFAC) announced that a Louisiana company has agreed to pay $20,800 to settle potential civil liability for violating Iran-related sanctions regulations.

According to the OFAC release, from April 2009 through June 2010, the company provided fuel inspection services on board five vessels affiliated with the Islamic Republic of Iran shipping lines (that had been identified by OFAC as blocked property and placed on OFAC’s list of specially designated nationals and blocked persons).


OFAC determined that:


  • The company did not voluntarily self-disclose its conduct
  • The alleged violations constituted a non-egregious case.
  • The company acted with reckless disregard for U.S. economic sanctions by failing to screen parties involved in its business transactions.


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


Douglas Zuvich

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Andrew Siciliano

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John L. McLoughlin

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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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