On December 3, 2024, The United States Treasury Department, The Office of Foreign Assets Control (OFAC), announced a $14,550,000 settlement with Aiotec GmbH ("Aiotec"). Aiotec, a Berlin, Germany-headquartered company that sources industrial equipment for the energy sector, has agreed to settle its potential civil liability for one apparent violation of the Iranian Transactions and Sanctions Regulations (ITSR).
To Access full article: Click here