OFAC reaches settlement with Italian heating company over Iran exports

OFAC has announced that Nordgas, an Italian heating company, has agreed to pay $950,000 ($650,000 of which will be suspended) to settle its liability for violations of the Iranian Transactions and Sanctions Regulations (ITSR). This matter appears to be linked to OFAC’s recent settlement with UniControl (see post). Between March 2013 and March 2017, Nordgas procured air pressure switches for …

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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