$16 Million Fine for American Company for Violating Sanctions on Iran and Venezuela

IranGate
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$16 Million Fine for American Company for Violating Sanctions on Iran and Venezuela

16 million dollar fine for an American company for violating sanctions on Iran and Venezuela

The U.S. Department of the Treasury announced that it agreed to a settlement of 1.61 million dollars with the international transportation company Farah for violating sanctions and trading with the regimes of Iran and Venezuela.

OFAC, the Office of Foreign Assets Control of the U.S. Department of the Treasury, announced that this company and its subsidiaries transferred parts that were previously sanctioned under Mahan Air of the Islamic Republic due to weapons and terrorism.

The Farah company’s office is located in Houston, Texas.

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