16.4 C
Frankfurt am Main

US sanctions Turkish businessman for dealing with Iran

Must read

The United States slapped sanctions on a Turkish businessman on Thursday for violating US sanctions on Iran, AFP reported.

Evren Kayakıran, 39, was the managing director from 2013-2015 of a Turkish company that distributes motion control products, the Treasury Department said in a statement.

It said the Turkish firm, Elsim, had been acquired by a US company, Kollmorgen Corp., in 2013, making it subject to US sanctions on Iran.

Elsim violated US sanctions by sending employees to Iran to service equipment under the guise of a vacation, the Treasury Department said.

Kollmorgen, which reported the violations, reached a $13,381 settlement with the Treasury Department’s Office of Foreign Assets Control.

“Treasury is sanctioning Kayakıran not just for his willful violation of US sanctions on Iran, but also for directing staff to commit and cover up these illegal acts,” said Sigal Mandelker, undersecretary for terrorism and financial intelligence.

US companies and individuals are barred from dealing with Kayakıran, and US financial institutions are not allowed to accept payments involving him.

Liked it? Take a second to support Turkish Minute on Patreon!
Become a patron at Patreon!
More News
Latest News