The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $3,882,797 settlement with Unicat Catalyst Technologies, LLC (“Unicat”). Unicat, an Alvin, Texas-based company that sells catalyst products, has agreed to settle its potential civil liability for 13 apparent violations of the Iranian Transactions and Sanctions Regulations (ITSR), and one apparent violation of the Venezuela Sanctions Regulations (VSR) that arose from its provision of catalyst products and consulting services to Iran and its sale of catalysts to a blocked Venezuelan entity. The settlement amount reflects OFAC’s determination that Unicat’s conduct was voluntarily self-disclosed and constituted an egregious case.
For more information, please visit the following Enforcement Notice and Settlement agreement.