Cobham Holdings, Inc. and OFAC reach a settlement
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced on 27 November 2018 that it has reached a settlement with Cobham Holdings, Inc. (“Cobham”) of Arlington, Virginia for $87,507. Cobham settled a potential civil liability for former subsidiary Aeroflex/Metelics, Inc. (“Metelics”) for apparent violations of the Ukraine Related Sanctions Regulations, 31 C.F.R. part 589. Metelics appears to have sold goods to Russia's Almaz-Antey arms manufacturer between July 2014 and January 2015, despite OFAC designating Joint-Stock Company Concern Almaz-Antey on 16 July 16 2014 and adding it to the List of Specially Designated Nationals and Blocked Persons.
To read OFAC’s enforcement information please click here.