The Treasury Department’s Office of Foreign Assets Control (OFAC) ordered multinational conglomerate 3M to pay more than $9.6 million over apparent Iran sanctions violations by its subsidiary and a U.S. employee of a separate subsidiary.
Switzerland-based 3M (East) AG knowingly sold reflective license plate sheeting (RLPS) via a German reseller to entities linked to Iranian law enforcement, OFAC said in its enforcement release Thursday. Additionally, a U.S. person working for 3M’s Dubai-based subsidiary, 3M Gulf Limited, was closely involved in the sales, OFAC alleged.
