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Foreign Subsidiaries Office of Foreign Assets Control (OFAC) Export Controls

Stankie Law

OFAC Fines Harman International $1.4 Million for Iran Sanctions Violations

Stankie Law on

On July 8, 2025, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a settlement with Harman International Industries, Inc. (“Harman”) for $1,454,145 to settle potential civil...more

Foley Hoag LLP

The Voluntary Disclosure Landscape After Microsoft’s Settlements with BIS and OFAC and the Issuance of the Axelrod Memorandum

Foley Hoag LLP on

On April 6, 2023, Microsoft Corporation (“Microsoft”) agreed to pay $3.3 million to the Department of Commerce’s Bureau of Industry and Security (“BIS”) and the Department of the Treasury’s Office of Foreign Assets Control...more

The Volkov Law Group

Stanley Black and Decker Settles OFAC Enforcement Action for $1.9 Million

The Volkov Law Group on

Stanley Black and Decker (“Stanley”) and its Chinese subsidiary Jiangsu Guoqiang Tools Co. (“GQ”) agreed to pay approximately $1.9 million to settle OFAC charges that it violated the Iran Sanctions Program. The OFAC...more

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