August 6, 2019

Truck company settles apparent Iran sanctions violations for $1.7 million

PACCAR Inc., a  truck manufacturer based in Bellevue, Washington, has resolved an investigation by the Office of Foreign Assets Control of the US Department of the Treasury, into potential civil liability for apparent violations of the Iranian Transactions and Sanctions Regulations, 31 CFR part 560 (ITSR) by PACCAR’s wholly-owned Dutch subsidiary, DAF Trucks N.V.  According to OFAC, DAF supplied 63 trucks to customers in Europe between 2013 and 2015, although the company knew or had reason to know that the trucks were destined for buyers in Iran, in violation of ITSR  § 560.215.  PACCAR voluntarily disclosed the apparent violations to OFAC, and will pay $1,709,325 to resolve the matter.

US Dept. of the Treasury Enforcement Information