(US Department of Treasury) The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a a Finding of Violation to Dominica Maritime Registry, Inc. (DMRI), headquartered in Fairhaven, Massachusetts, for a violation of the Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560 (ITSR).
Specifically, OFAC determined that on July 4, 2015, DMRI violated § 560.211 of the ITSR by dealing in the property or interests in property of the National Iranian Tanker Company (NITC), an entity identified by OFAC as meeting the definition of the Government of Iran and whose property and interests in property are blocked.
DMRI executed a binding Memorandum of Understanding with NITC, which OFAC determined was a contingent contract and therefore property in which NITC, a blocked person, had an interest. OFAC determined that DMRI did not voluntarily disclose the violation and that the violation constitutes a non-egregious case.
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