The U.S. subsidiary of CMA CGM paid $374,400 to settle charges of violating trade sanctions against Iran, Sudan and Cuba, the Treasury Department’s Office of Foreign Assets Control announced Wednesday, the Journal of Commerce reported.
OFAC charged CMA CGM with violating sanctions through 28 shipments to ports of the three countries between December 2004 and April 2008.
In March, the Israeli Navy seized a CMA CGM vessel carrying more than 50 tons of weapons from Iran, according to published reports. Israeli authorities said the weapons were being shipped to Hamas in the Gaza Strip, and the carrier said it was the victim of false transport documentation.
The agency said total fines against the company were $640,000, but lowered by mitigating factors. Among them, CMA CGM lacked an adequate compliance program to avoid U.S. sanction violations, and agricultural and medical product shipments to Cuba and Iran may have qualified for sanction exemptions.
OFAC charged CMA CGM with violating sanctions through 28 shipments to ports of the three countries between December 2004 and April 2008.
In March, the Israeli Navy seized a CMA CGM vessel carrying more than 50 tons of weapons from Iran, according to published reports. Israeli authorities said the weapons were being shipped to Hamas in the Gaza Strip, and the carrier said it was the victim of false transport documentation.
The agency said total fines against the company were $640,000, but lowered by mitigating factors. Among them, CMA CGM lacked an adequate compliance program to avoid U.S. sanction violations, and agricultural and medical product shipments to Cuba and Iran may have qualified for sanction exemptions.