September 2017 – European Sanctions Enforcement

September 29, 2017January 10, 2024 by Mark Handley

Netherlands – fine of €100,000 imposed on payment services provider

In 2015 the Dutch National Bank had imposed a financial penalty of €125,000 on an unnamed payment services provider for failings in relation to sanctions and PEP screening as part of a review by the bank.

The payment services provider appealed the decision.

On appeal to the District Court of Rotterdam the penalty was upheld but the fine reduced to €100,000.

The National Bank had originally calculated the fine as €550,000 which was then reduced due to the financial condition and size of the defendant.

September 14, 2017January 10, 2024 by Mark Handley

Germany – Iran sanctions prosecution case sent to Federal Court

A prosecution in relation to the export of valves for use in the Iranian nuclear sector which has been ongoing since 2014 has now been referred to the German Federal Court.

The prosecution of three individuals, named only as Bernd Gehrad L., René L. and Ralf C, relates to the export of 51 specialized valves to Iran between 2010 and 2011. The value of the valves was approximately €1 million.

The case has been sent to the Federal Court after a court in Berlin had ruled that the penalties being sought were unconstitutional.

September 4, 2017January 10, 2024 by Mark Handley

Netherlands – investigation into alleged breach of Crimean sanctions

It has been reported that the Dutch International Development minister has ordered an investigation into the alleged involvement of two Dutch companies, Dematec Equipment and Biljard Hydrauliek, in providing equipment for the building of the Kerch Strait Bridge designed to join Russia and Crimea.

The allegations, if proven, would be a breach of the EU’s Crimean sanctions.

September 4, 2017January 10, 2024 by Mark Handley

Netherlands – fine and custodial sentence imposed for breach of Iran sanctions.

The District Court of East Brabant has convicted an individual for breaches of the EU’s Iran sanctions.

The defendant had traded for 2 years with a designated Iranian entity. The unspecified goods had been shipped via intermediary countries Turkey and Dubai.

He was sentenced to 16 months in jail, with a further 4 months suspended subject to a two-year probation period. He was also fined €500,000. The fine was on the individual personally and not on the company through which he traded.