OFAC SETTLEMENT WITH TEXAN COMPANY WHICH THAT DEVELOPS AND SUPPLIES LIVE PRODUCTION AND 3D ANIMATION HARDWARE AND SOFTWARE SYSTEMS OVER SUPPLIES TO IRAN

On 9 September, OFAC reported a settlement with NewTek Inc over potential civil liability for apparent violations of the Iranian Transactions and Sanctions Regulations that occurred between December 2013 and May 2018 when it indirectly exported goods, technology, and services from the US to Iran through third-country distributors.

https://content.govdelivery.com/accounts/USTREAS/bulletins/2f08e17

https://home.treasury.gov/system/files/126/20210909_newtek.pdf

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017