U.S. company pays civil penalties to settle Iranian trade sanction violations 

July 19: The Treasury Department’s Office of Foreign Assets Control (OFAC) today reported that a Houston-based drilling company agreed to pay over $84,000 to settle potential civil liability for alleged violations of the Iranian Transactions Regulations.

According to a July 19 release [PDF 13 KB], the company attempted to export four shipments and successfully exported two shipments of goods, valued at over $93,000, from the United States to the United Arab Emirates, with reason to know that the shipments were intended specifically for supply, transshipment, or re-exportation to an oil drilling rig located in Iranian waters.


The OFAC reported that the company did not voluntarily self-disclose the apparent violations and that the apparent violations constituted a non-egregious case.



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


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Andrew Siciliano

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John L. McLoughlin

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Luis A. Abad

(212) 954-3094


Amie Ahanchian

(202) 533-3247


Or your local KPMG Trade & Customs professional.




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