A Houston-based freight forwarder company Fracht FWO Inc. will have to pay $1.61 million for violating U.S. sanctions tied to Venezuela and Iran, according to a Sept. 3 announcement from the Treasury Department’s Office of Foreign Assets Control (OFAC). OFAC has ramped up its enforcement in recent months, a clear signal that the second Trump administration will continue punishing firms for sanctions violations.
The OFAC case against Fract FWO dates back to May 2022, when a Fracht affiliate based in Mexico reached out to its parent company to help ship an order of car parts to a customer in Argentina. The company, through a broker in Mexico, contracted a Venezuelan carrier to transport goods from Mexico to Argentina.
