The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department has fined the Bank of Moscow $9.4 million for breaching the sanctions imposed by the U.S. authorities against Iran, the website of the OFAC reports.
"In the period from 9 January 2008 to 13 July 2009, on the orders of the former top management of the Bank of Moscow and on behalf of its subsidiary Bank Melli Iran, a series of financial transactions took place that fall under the sanctions which have by now been eliminated," Prime reports.
The OFAC reports that 69 transactions in question amounted to $ 41.3 million.
Bank of Moscow fined by U.S. for violating sanctions against Iran
The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department has fined the Bank of Moscow $9.4 million for breaching the sanctions imposed by the U.S. authorities against Iran, the website of the OFAC reports."In the period from 9 January 2008 to 13 July 2009, on the orders of the former top management of the Bank of Moscow and on behalf of its subsidiary Bank Melli Iran, a series of financial transactions took place that fall under the sanctions which have by now been eliminated," Prime reports.The OFAC reports that 69 transactions in question amounted to $ 41.3 million.
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