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Equipment Co. Inks $14.5M OFAC Deal Over Iran Sanctions

By Sarah Jarvis ( December 3, 2024, 11:42 PM EST) -- The U.S. Department of the Treasury's Office of Foreign Assets Control on Tuesday said a German industrial equipment company has inked a $14.5 million settlement to end claims that it violated Iran sanctions by supplying the country with a polypropylene plant, though a majority of the penalties will be suspended if the company meets certain compliance commitments set out by the deal....

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