German Co. Settles US Claims It Violated Iran Embargo

Law360, New York (September 25, 2013, 2:18 PM EDT) -- Germany's KMT GmbH has agreed to settle allegations that it violated the U.S. embargo on Iran by trying to export high-pressure water pumps for use at an Iranian oilfield, the U.S. Department of Commerce said Monday.

KMT agreed to a $125,000 civil penalty in connection with administrative proceedings brought against it by the Commerce Department's Bureau of Industry and Security, which alleged that the company violated the Export Administration Regulations, according to an order BIS issued Monday. Starting in October 2008, KMT “engaged in transactions or...
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