3 Takeaways For Aviation Cos. From Iran Sanctions Alert
By Linda Chiem (July 26, 2019, 8:37 PM EDT) -- Civil aviation companies should shore up their compliance and due diligence in light of both Iran's illicit tactics for dodging U.S. sanctions and a new federal advisory warning companies of stiff penalties if they're found doing business with Tehran, experts say.
The U.S. Treasury Department's Office of Foreign Assets Control issued a formal advisory on Tuesday putting the global aviation industry on notice of the legal traps that could befall aircraft makers, parts suppliers and other service providers stemming from any business dealings with Iran.
The Trump administration's withdrawal last year from the Obama-era nuclear deal shut down Iran's multibillion-dollar deals with...
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