Aviation Company Fined $200K After Customer Failed to Comply with OFAC Sanctions

Denied & Restricted Parties, Enforcement, OFAC, Sudan, UAE, Ukraine, Violations & Fines

By: Danielle Hatch Apollo Aviation Group, LLC (“Apollo”), a Florida company that invests in aviation by acquiring, refurbishing, marketing, and leasing commercial jet aircraft, engines and related assets, and disassembly and resale of aircraft and components has...

Bank in London will Pay $4 Million to Settle OFAC Violations

Enforcement, Finance & Banking, OFAC, Sanctions, Sudan

By: Danielle Hatch British Arab Commercial Bank plc (BACB), a commercial bank in London, has entered into a settlement agreement with the Office of Foreign Assets Control (OFAC) related to 72 violations of the Sudanese Sanctions Regulations. Between 2010 and 2014,...

Swedish Telecom Company Pays Penalty for Sanctions Violation

Enforcement, OFAC, Sanctions, Sudan, Violations & Fines

By: Thad McBride on July 19, 2018 Thad McBride is a member at Bass, Berry & Sims PLC (Washington, DC) and leads the firm’s International Trade Practice Group. He regularly counsels clients on compliance matters related to economic sanctions and embargoes, export...

The United States Substantially Relaxes Existing Embargo on Sudan

OFAC, Sanctions, Sudan

By: Cari N. Stinebower, Esq., cstinebower@crowell.com, 202-624-2757; Alan W.H. Gourley; Esq., agourley@crowell.com, 202-624-2561 and +44-20-7413-1342 (London Office); and Carlton Greene, Esq., cgreene@crowell.com, 202-624-2818.  All of Crowell & Morning LLP....

US Oil & Gas Company Fined $25 Million from BIS & OFAC

Canada, Cuba, Iran, OFAC, Sanctions, Sudan, Violations & Fines

National Oilwell Varco, Inc., a Delaware corporation, and its Canadian subsidiaries, Dreco Energy Services, Ltd (Dreco) and NOV Elmar (NOV) have agreed to pay a combined $25 Million for violations of the Cuban Assets Control Regulations, the Iranian Transactions and...

It’s Not A Good Time for Iran Violations: Company Fined Over $16 Million for Medical Supplies Exported to Iran, Sudan and Syria

Iran, OFAC, Sanctions, Sudan, Syria, Violations & Fines

By: Danielle McClellan Alcon Laboratories, Inc., (Fort Worth), Alcon Pharmaceuticals Ltd. (Fribourg, Switzerland) and Alcon Management, SA (Geneve, Switerland) (collectively, “Alcon”) have agreed to settle a potential civil liability with the US Department of...