Wash. Truck Maker Pays $1.7M Over Iran Sanctions Violations

Law360 (August 6, 2019, 8:33 PM EDT) -- Washington-based truck manufacturer Paccar Inc. has agreed to fork over more than $1.7 million to resolve claims that its Dutch subsidiary defied U.S. sanctions by selling trucks that ended up in Iran, the U.S. Department of the Treasury said on Tuesday.

Treasury's Office of Foreign Assets Control struck the $1,709,325 settlement with Paccar Inc. after the company disclosed that its Dutch subsidiary DAF Trucks NV had sold 63 trucks — worth more than $5.4 million — to dealers or traders who ultimately sold the trucks to buyers in Iran.

DAF knew or should have known that those trucks were destined for...

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