Italian company Nordgas, a producer and seller of components for gas boiler systems and applications, will pay $950,000 for apparent violations of Iran sanctions, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced Friday.

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...