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OFAC Enforcement Action: Kollmorgen Corporation

Because Kollmorgen’s Turkish affiliate serviced machines operating in Iran on six occasions, they agreed to a $13,381 settlement. At first glance, it appears that Kollmorgen knew its responsibilities: Kollmorgen acquired control of Elsim in early 2013, thereby making Elsim subject to the ITSR’s prohibitions for any activity or conduct engaged […]

Executive Order 13608 FAQ: Part 1

191. What does Executive Order 13608 “Prohibiting Certain Transactions with and Suspending Entry into the United States of Foreign Sanctions Evaders with Respect to Iran and Syria” do? This Executive Order gives Treasury new authorities. First, it strengthens Treasury’s ability to address behavior by foreign individuals and entities determined to […]