OFAC Settles Cases Over Sanctions Violations with Kyrgyz, Iranian Entities
The Treasury Department’s Office of Foreign Assets Controls settled two civil liability cases on June 18 and 19 over sanctions violations. The National Bank of Pakistan’s New York branch agreed to pay $28,000 to OFAC over more than a half…
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dozen violations between 2013-14 of the Global Terrorism Sanctions Regulations, OFAC said on June 18 (here). NBP processed transfers to Kyrgyz Trans Avia, an airline headquartered in Bishek, Kyrgyzstan, said OFAC. The agency placed the airline on its Specially Designated Nationals List in 2013 (here). The base amount for the violations is $64,000. OFAC also on June 19 settled a civil liability case with John Bean Technologies, based out of Chicago, over 2009 violations of the Weapons of Mass Destruction Proliferators Sanctions Regulations. The company agreed to pay $391,950 over the violations, said OFAC (here). John Bean sold goods to a Chinese company, and the goods were then shipped from Spain to Iran via Islamic Republic of Iran Shipping Lines. John Bean later reimbursed ”AeroTech Spain for charges paid to its freight forwarder for the shipping services rendered by IRISL, and to Banco Santander for fees associated with negotiating” the payments, on top of another violation related to trade documentation filing, said OFAC. The total based amount for the violations is $670,000.