3. Sanctions





Former Turkish Minister of Economy subject to U.S. Department of Justice investigation into Turkish Iran Sanctions Violations

On 06 September 2017, the U.S. Department of Justice announced that it’s broadening the ongoing investigation into Turkish violations of U.S. Iran sanctions. The investigation includes a probe into the conduct of a former Turkish Minister of the Economy who allegedly received bribes and kick-backs to conceal U.S. Iran related sanctions violations.                                                                   






Here we go again: U.S. extra-territorial reach penalizing Foreign Companies dealing with Iran

On 27 July 2017, the U.S. Department of the Treasury’s Office of Foreign Assets Control published a settlement agreement with Singapore based CSE Global Limited and CSE TransTel Pte. Ltd. Both companies agreed to pay $12,027,066 to settle potential civil liability for 104 violations of the Iranian Transactions and Sanctions Regulations (“ITSR”) and the International Emergency Economic Powers Act (“IEEPA”). The case is an example of the expanding extra-territorial reach of U.S. sanctions.