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US Treasury announces record non-bank sanctions violations penalty on British American Tobacco

( April 25, 2023, 20:40 GMT | Official Statement) -- MLex Summary: The US Treasury Department's Office of Foreign Assets Control announced a $508 million settlement agreement with British American Tobacco PLC to resolve its apparent violations of US sanctions on the Democratic People’s Republic of Korea and proliferators of weapons of mass destruction. This settlement is OFAC’s largest ever with a non-financial institution and reflects the statutory maximum penalty.Statement and relevant documents follow below:...

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