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SETTLEMENT AGREEMENT
This settlement agreement (the “Agreement”) is made by and between the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and Alfa Laval Middle East Ltd. (“AL Middle East” or “Respondent”).
I. PARTIES
OFAC administers and enforces economic sanctions against targeted foreign countries, regimes, terrorists, international narcotics traffickers, and proliferators of weapons of mass destruction, among others. OFAC acts under Presidential national emergency authorities, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under U.S. jurisdiction.
AL Middle East, a company located in Dubai, United Arab Emirates (U.A.E.), is the regional head office for the Middle East and North Africa region of its ultimate parent company, Sweden- based Alfa Laval AB. Alfa Laval AB and AL Middle East sell and market products and services for heat transfer, separation, and fluid handling...
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1) Refer to Civil Enforcement Information - Alfa Laval Middle East Ltd., for consolidated commentary on the Alfa Laval Middle East Ltd. case.