Russian Bank To Pay $9.5M To US Over Iran Sanctions Claims

Law360, New York (January 27, 2014, 6:31 PM EST) -- Bank of Moscow has agreed to pay $9.49 million to resolve claims it violated U.S. sanctions against Iran by processing funds transfers for an Iranian bank, the U.S. Department of the Treasury said Monday.

Russia's Bank of Moscow will make the payment to settle its potential liability for 69 alleged violations of sanctions imposed against Iran under the Weapons of Mass Destruction Proliferators Sanctions Regulations, the Treasury Department's Office of Foreign Assets Control said in an enforcement notice.

The alleged violations stem from funds transfers Bank...
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