Stanley Black & Decker
Stanley Black & Decker, Inc. (“Stanley Black & Decker”), a company based in New Britain, Connecticut, on behalf of itself and its subsidiary located in China, Jiangsu Guoqiang Tools Co. Ltd. (“GQ”), has agreed to pay $1,869,144 to settle its potential civil liability for 23 apparent violations of the Iranian Transactions and Sanctions Regulations. Between on or about June 29, 2013 and on or about December 30, 2014, GQ exported and attempted to export 23 shipments of power tools and spare parts, with a total value of $3,201,647.73, to Iran or to a third country with knowledge that such goods were intended specifically for supply, transshipment, or reexportation, directly or indirectly, to Iran, which would have been prohibited if engaged in by a U.S. person.
Receive Iran News in Your Inbox.
Eye on Iran is a news summary from United Against Nuclear Iran (UANI), a section 501(c)(3) organization. Eye on Iran is available to subscribers on a daily basis or weekly basis.