Regulatory Alerts2026-08-12 | 20260812Added
Settlement Agreement between OFAC and Rice Lake Weighing Systems, Inc.
Rice Lake Weighing Systems, Inc. agreed to pay $60,764 to settle potential civil liability for eight apparent violations of U.S. sanctions on Iran. The violations occurred when its Italian subsidiary, Dini Argeo S.r.l., exported weighing equipment to a distributor in the United Arab Emirates with knowledge that the goods were ultimately destined for Iran. OFAC determined the violations were non-egregious and voluntarily self-disclosed, setting the penalty at one-half of the transaction value for each apparent violation.
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