Alliance Steel, Inc.

HQ Country of Company:
USA
Agency:
OFAC
Location of Sentencing:
Washington D.C.
Date:
Description:

Alliance Steel, Inc. has agreed to pay $435,003 to settle its potential civil liability for 61 apparent violations of OFAC regulations related to its importation of engineering services from an Iranian engineering company. Alliance maintained an ongoing business relationship with the Iranian company over a period of approximately five years. Alliance paid the Iranian company approximately $1.45 million during the period. At least a dozen senior management members knew of the arrangement, but the activity didn’t stop until 2018 because of the company’s lack of familiarity with U.S. sanctions requirements, Alliance said. The arrangement was the company’s only international business relationship at the time, OFAC noted.

Fine:
Total Fine
$435,003
Total Forefeiture
$ 0.00
Total Special Assessment
$ 0.00
Grand Total
$435,003
Source:
U.S. Department of the Treasury, "OFAC Settles with Alliance Steel, Inc. for $435,003 with Respect to Potential Civil Liability for Apparent Violations of the Iranian Transactions and Sanctions Regulations," 4/19/2021.
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