Amazon may face penalty for sales banned by Iran sanctions
RT.com
11 Feb, 2017
Internet retail giant Amazon may face sanctions after disclosing that it “processed and delivered” consumer products that are covered by US sanctions on Iran.
“We determined that, between January 2012 and December 2016, we processed and delivered orders of consumer products for certain individuals and entities located outside Iran covered by the Iran Threat Reduction and Syria Human Rights Act [ITRA] or other United States sanctions and export control laws,” Amazon stated in a securities filing released on Thursday.
In 2012, former President Barack Obama enacted ITRA, which tightens trade restrictions on Iran, in an attempt to force the country to limit its nuclear activities. The measure imposes civil penalties on any US company found dealing with Iranian individuals or entities that appear on the sanctions list.
Some of these sanctions were lifted after a landmark multilateral agreement was reached with Iran in 2015, yet some remain in place. Last week, the US government beefed up the existing sanctions after Tehran conducted a ballistic missile test, blacklisting 13 more Iranian individuals and a dozen businesses.
According to Amazon, it had dealings with people and entities outside of Iran, but controlled or owned by the Iranian government. The company said the goods sold included a wide range of products, from books and apparel, to toys and consumer electronics.
The Rest…HERE
