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U.S. DEPARTMENT OF THE TREASURY
OFFICE OF FOREIGN ASSETS CONTROL
SETTLEMENT AGREEMENT
This settlement agreement (the “Agreement”) with respect to ENF [REDACTED] is made by and between the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and Harman International Industries, Inc. (Harman), including its subsidiaries worldwide (collectively referred to hereafter as “Respondent”).
I. PARTIES
OFAC administers and enforces economic sanctions against targeted foreign countries, regimes, terrorists, international narcotics traffickers, human rights abusers, 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.
Harman, a multinational audio electronics company, is an independent subsidiary of Samsung Electronics (Samsung), and headquartered in Stamford, Connecticut. Harman products include...
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1) See comment to Enforcement Release: Harman International Industries, Inc.