By Maya Lester KC & Michael O’Kane

OFAC settles with Kollmorgen & designates its Turkish MD for directing the violation

Last week (7 February), OFAC reached a $13,381 settlement with Kollmorgen Corporation to settle potential civil liability on behalf of its Turkish affiliate, Elsim Elektroteknik Sistemler Sanayi ve Ticaret Anonim Sirketi, for 6 apparent violations of the Iranian Transactions and Sanctions Regulations. On 6 occasions between July 2013 and July 2015, Elsim is said to have serviced machines containing Elsim…...

This content is for subscribers only

To continue reading please login or subscribe.

IranIran United StatesUnited States

About Michael O'Kane

For all site-related issues, including subscription and payment issues, please contact
Michael is Senior Partner at Peters & Peters Solicitors LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters &...

See profile for Michael O'Kane >

Share this page on: