- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
President Trump’s recent decision to withdraw the U.S. from the Iran nuclear deal will not only have severe sanctions implications for foreign subsidiaries of U.S. parent companies, but will also negatively impact EU firms.
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Sanctions compliance officers should be on alert following several new sanctions designated by the Office of Foreign Assets Control against Iran’s largest steel, aluminum, copper, and iron manufacturers.
European companies are winding down investments in Iran as the European Union advises them to hang in there while it looks for ways around U.S.-imposed sanctions.
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
