OFAC’s settlement with Flowserve Corporation marks a continued effort by OFAC and its sister agencies to investigate and pursue foreign and domestic entities that export goods from the United States to sanctioned countries. The apparent violations in this case – spanning three OFAC-administered sanctions programs: the Iranian Transactions Regulations, the Sudanese Sanctions Regulations, and the Cuban Assets Control Regulations – were disclosed to OFAC and the Department of Commerce’s Bureau of Industry and Security, and the two agencies worked in concert to investigate and resolve their cases with concurrent settlements.
"OFAC and BIS have a responsibility to ensure that U.S. sanctions programs and export laws are implemented to the fullest extent of the law," said OFAC Director Adam J. Szubin. "Today’s settlements reflect a long-standing dedication, and are the result of collaborative efforts, by OFAC and BIS, and we will continue to work closely together to investigate and hold accountable both foreign and domestic entities that export goods from the United States to sanctioned countries," said OFAC Director Adam J. Szubin.