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Clifford Chance

Clifford Chance


A Truckload of Compliance Guidance

7 August 2019

On August 6, 2019, OFAC announced that U.S. parent company PACCAR Inc had settled potential civil liability for 63 apparent violations of the Iranian Transactions and Sanctions Regulations committed by its Dutch wholly owned subsidiary, DAF Trucks N.V. PACCAR Inc agreed to pay $1,709,325 relating to the 63 apparent violations, dating from 2013-2015 in connection with the sales of trucks valued at approximately $5.4 million where DAF Trucks N.V knew or had reason to know that the trucks were ultimately intended for buyers in Iran.

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