Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Nordgas S.r.l.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a settlement with Nordgas, S.r.l., a company located in Italy that produces and sells components for gas boiler systems and applications. Nordgas, S.r.l. agreed to remit $950,000 to settle its potential civil liability for apparent violations of the Iranian Transactions and Sanctions Regulations. Read the complete article here.