Hong Kong Company Says US Subsidiary May Have Violated Iran Sanctions
A Hong Kong-based appliance maker said its subsidiary may have violated U.S. sanctions, according to its global offering released Dec. 9. JS Global Lifestyle Company said its subsidiary, U.S.-based SharkNinja Operating LLC, “engaged in a wire transfer” for a shipment…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
on an Iran-flagged ship operated by the Islamic Republic of Iran Shipping Line, the company said. The transfer may be deemed a violation of the Iranian Transactions and Sanctions regulations and the company may be subject to a civil monetary penalty. The company said it is “committed to ensuring our compliances with relevant economic sanctions laws” and preventing a future violation, but said it will not “always be able to do so, for factors beyond our control or otherwise.”