Fine for Italian gas boiler component producer shows risks of non-compliance with US control and sanctions rules
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Fine for Italian gas boiler component producer shows risks of non-compliance with US control and sanctions rules
A recent fine imposed by the Office of Foreign Assets Control (OFAC) in the US demonstrated the dangers of disregarding US regulations when handling US-controlled items. Italian business Nordgas S.r.l. has agreed to pay $950,000 to settle its potential civil liability for apparent violations of the US Iranian Transactions and Sanctions Regulations (ITSR). The US…
Read MoreGerman software firm SAP SE show the benefits of self-disclosure with reduced penalties for US control breaches
German software company SAP SE has become the first company to benefit from a US Justice Department programme that encourages companies to self-report criminal export violations in exchange for leniency. The firm disclosed that it violated export and sanctions laws related to Iran. It agreed to help US agencies conduct further investigations, the US Justice…
Read MorePrime minister extols ‘scrupulous’ UK checks on exports of riot gear to US
Prime Minister Boris Johnson has said that export licences for British-made riot gear destined for US security forces are subject to a “scrupulous” system of checks to ensure the items are not misused. Johnson made the remarks in parliament yesterday (Wednesday 3 June) after opposition parties urged the government to suspend the issuing of export…
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