Skip to main content

Berkshire Hathaway to pay $4.1 million over alleged Iran sanctions violations

The US Treasury Department says one of Berkshire's Turkish subsidiaries shipped goods that it knew would be resold to Iran.
GettyImages-1141088748.jpg

Warren Buffett's Berkshire Hathaway has agreed to pay $4.1 million to settle its potential civil liability relating to allegations that one of its Turkish subsidiaries violated US sanctions against Iran, the Treasury Department announced on Tuesday.

The department said that between December 2012 and January 2016, Iscar Turkey exported 144 shipments of cutting tools and related disposable inserts worth $383,443 to third-party Turkish distributors. The Berkshire subsidiary knew that the goods would then be resold to Iranian end-users, including the government of Iran, the Treasury Department said.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.