OFAC, KMT Group AB Settle Iran Sanctions Violations Case
The KMT Group AB settled a civil liability case with the Treasury Department Office of Foreign Assets Control (OFAC), agreeing to pay $125,000 for apparent violations of Iranian Transactions and Sanctions Regulations committed by a subsidiary company, said OFAC. The…
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KMT Group AB subsidiary attempted to export nine high pressure water jetting pump units pumps from the U.S. to Germany, with knowledge or reason to know that the goods were intended specifically for reexportation to South Pars Industrial Gas Complex in Tehran, Iran, said OFAC. The attempted export took place between February and March 2009. OFAC said the company did not voluntarily self-disclose the export destination to OFAC, but the violations do not constitute an egregious case, the agency said. CBP already seized two of the pumps and as part of the settlement, the KMT Group AB agreed that no KMT Group entities will contest CBP’s forfeiture proceedings against the remaining seven pumps, OFAC said.