Sojitz

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

Sojitz (Hong Kong) Limited (“Sojitz HK”), a Hong Kong, China-based company that engages in offshore trading and cross-border trade financing, has agreed to pay $5,228,298 to settle its potential civil liability for apparent violations of the Iranian Transactions and Sanctions Regulations (ITSR). The apparent violations occurred when Sojitz HK made U.S. dollar payments through U.S. financial institutions for Iranian-origin high density polyethylene resin (HDPE) from its bank in Hong Kong to the HDPE supplier’s banks in Thailand.

Fine:
Total Fine
$5,228,298
Total Forefeiture
$ 0.00
Total Special Assessment
$ 0.00
Grand Total
$5,228,298
Source:
OFAC, "OFAC Settles with Sojitz (Hong Kong) Limited for $5,228,298 Related to Apparent Violations of the Iranian Transactions and Sanctions Regulations," 1/11/2022.
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