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 Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and PACCAR Inc.


The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $1,709,325 settlement with PACCAR Inc (“PACCAR”).  PACCAR, a company headquartered in Bellevue, Washington, has agreed to settle its potential civil liability for 63 apparent violations of the Iranian Transactions and Sanctions Regulations, 31 C.F.R. part 560 (ITSR) by DAF Trucks N.V. (“DAF”), a wholly owned subsidiary of PACCAR, headquartered in Eindhoven, the Netherlands.  Specifically, between the approximate dates of October 2013 and February 2015, DAF sold or supplied 63 trucks to customers in Europe that it knew or had reason to know were ultimately intended for buyers in Iran.  These transactions appear to have violated § 560.215 of the ITSR.  OFAC determined that PACCAR voluntarily disclosed the apparent violations, and that the apparent violations constitute a non-egregious case.

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Last Updated: 8/6/2019 1:23 PM