US manufacturer discloses potential violations of Iran sanctions

H.B. Fuller, a US manufacturer of adhesives based in Minnesota, has disclosed in its quarterly regulatory report that it may have violated US sanctions on Iran. The company said hygiene products may have been resold into Iran via customers of its subsidiaries in Turkey from 2011, and via its India subsidiaries from 2014, but sales were stopped in January 2018. Based on an internal investigation, HB Fuller “could incur penalties ranging from zero to $10,000” according to the report.