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US Fined Two Companies for Violating Iran Sanctions

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US Fined Two Companies for Violating Iran Sanctions
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The US fined two companies for violating Iran sanctions

The US Department of Justice announced on Tuesday, April 18, that two international companies, DES International Co Ltd based in Taiwan and Soltech Industry Co Ltd based in Brunei, have been charged by the District Court of Columbia in the United States with conspiracy to defraud the United States and violating international emergency economic laws, and have been sentenced to pay a fine.

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The US fined two companies for violating Iran sanctionsEnglish

According to the announcement from this department, the aforementioned companies have each been required to pay a fine of $83,769 for violating the International Emergency Economic Powers Act (IEEPA) and the regulations related to Iran sanctions and trade (ITSR). This amount is three times the value of the goods that were illegally exported to Iran. These companies will also be monitored for five years.

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