3M

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

3M Company (“3M”), a global manufacturing company based in St. Paul, Minnesota, has agreed to pay $9,618,477 to settle its potential civil liability for 54 apparent violations of OFAC sanctions on Iran. This conduct occurred between 2016 and 2018 when a 3M subsidiary based in Switzerland, 3M (East) AG (“3M East”), knowingly sold reflective license plate sheeting via a German reseller to Bonyad Taavon Naja, an entity controlled by Iran’s Law Enforcement Forces. Additionally, one U.S. person employed by a 3M foreign subsidiary was closely involved in the sales.

Fine:
Total Fine
$9,618,477
Total Forefeiture
$ 0.00
Total Special Assessment
$ 0.00
Grand Total
$9,618,477
Source:
Department of Treasury, "OFAC Settles with 3M Company for $9,618,477 Related to Apparent Violations of the Iranian Transactions and Sanctions Regulations," 9/21/2023
Back to Iran Violation and Penalties Tracker