OFAC Notice
The Office of Foreign Assets Control (OFAC) posted a Notice stating that Houston-based Grand Resources USA, Inc. (a subsidiary of Beijing-based Grand Resources Co., Ltd.) has been assessed a penalty of $402,000 for violating US economic sanctions regarding Iran.
Among other things, in 2009 the company dealt in property in which the Islamic Republic of Iran Shipping Lines (IRISL) had an interest, including the shipment of cargo aboard a blocked vessel.
You may view the Notice, by clicking here.
Source: OFAC