US delivery services company reports Iran shipments

FedEx Corporation, a US-based multinational courier delivery services company, disclosed in a regulatory filing that P2P Mailing Limited, a UK e-commerce transportation solutions company acquired by FedEx in March 2018, facilitated the shipment into Iran of approximately 1,080 packages after its acquisition by FedEx.  The company says that some of the packages were shipped by one of P2Ps vendors on Iran Air, an entity identified by OFAC as controlled by the government of Iran, and some were carried to their final destination within Iran by Iran Post, which FedEx also believes to be an Iranian government-owned entity.  According to Fedex, the shipments were stopped as soon as they were discovered in February 2019, and the company made an initial voluntary self-disclosure to OFAC.  FedEx estimates the gross revenue for the shipments to have been approximately $21,300, and the aggregate profit generated to be approximately $6,700.

Form 10-Q