Cookware coating manufacturer Whitford Worldwide has agreed to pay $824,314 as part of a settlement with the Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced Tuesday regarding subsidiary dealings in the sanctioned country of Iran.
The case was termed “non-egregious,” despite 74 apparent violations of the Iranian Transactions and Sanctions Regulations by Whitford and its subsidiaries in Italy and Turkey. OFAC credited the company for its significant remedial measures when determining the fine.
