Berkshire Hathaway Guilty of Iranian Sanction Violations?
Berkshire Hathaway Violation of Sanctions Berkshire Hathaway is an American holding company that is headquartered in Omaha, Nebraska and is led by Warren Buffet who is chairman and chief executive. As a multinational conglomerate, the company has many business investments and dealings throughout the world. From the years 2012 to 2016, a Turkish subsidiary of Berkshire known as I scar Kesici Takim Ticareti ve Imalati Limited Sirket (Iscar Turkey) was found to have been operating against long standing US sanctions imposed on the nation of Iran. The subsidiary knowingly sold orders of various restricted materials to Iranian channels that the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) classified as being essentially the government of Iran. The mother company Berkshire Hathaway was uninformed and unaware of these unsanctioned dealings but was subsequently fined by the US four years after the illegal dealings had subsided. ...