The US Treasury Department has reached an agreement with Microsoft to settle a dispute over sanctions violations by the IT giant against Cuba, Iran, Syria and Russia. According to RBC with reference to the statement of the US Treasury, the company will pay almost $3 million for 1.3 thousand points of violations.
“Microsoft has agreed to transfer $2,980,265.86 to settle its potential civil liability for 1,339 flagrant violations of the Cuban Assets Control Regulations, the Iran Transactions and Sanctions Regulations, the Syria Sanctions Regulations, and “Ukraine and Russia Sanctions Provisions” related to the export of services or software from the United States to jurisdictions subject to comprehensive sanctions, ”the message says.
The Treasury Department stressed that the company’s decision to pay the fine reflects the conclusion of OFAC (U.S. Office of Foreign Assets Control) that “Microsoft’s behavior was not egregious and was disclosed voluntarily.”
Source: Rosbalt
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
