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3M settles with OFAC for 54 apparent violations of sanctions on Iran

Cardboard sign saying "Sanctions On!"
Photo: Chris McGrath/Getty Images

The US Treasury Department’s Office of Foreign Assets Control said a 3M subsidiary sold reflective license plate sheeting to a sanctioned Iranian entity over the course of two years.

Global manufacturing firm 3M reached a $9.6m settlement with the US Treasury Department’s Office of Foreign Assets Control (OFAC) after it allegedly violated US sanctions on Iran.

OFAC imposed a $9.6m settlement on the global manufacturing giant 3M, with the company agreeing to settle its potential