US Aircraft Maintenance Firm Violated Terror-Related Sanctions Over Iran Ties - Treasury

WASHINGTON (UrduPoint News / Sputnik - 13th December, 2019) Aero Sky Aircraft Maintenance would have been subject to stiff monetary penalties for contracting with Iran's Mahan Air if the Texas-based company had not first gone out of business, according to a finding by the US Treasury Department.

"The US Department of the Treasury's Office of Foreign Assets Control (OFAC) issued a Finding of Violation to Aero Sky Aircraft Maintenance, Inc. ("Aero Sky"), a Texas company located in San Antonio, that negotiated and entered into a contract and contingent contract with Mahan Air in violation of the Global Terrorism Sanctions Regulations, 31 C.F.R. part 594 (GTSR)," the Treasury Department said in a press release on Thursday.

Aero Sky was initially sanctioned following a the December 19, 2016 signing of a deal to provide services to Mahan Air and two other parties, the release said.

However, Aero Sky subsequently entered into bankruptcy proceedings and has since dissolved, release pointed out.

"But for Aero's Sky dissolution, OFAC believes the facts presented in this matter would have justified a strong civil monetary penalty," the release said.

The Treasury Department sanctioned Mahan Air as early as in 2011 for providing financial, material or technological support for the Iranian Revolutionary Guard Corps- Quds Force.

Earlier this week, the Treasury Department extended sanctions to three of Mahan's general sales agents in markets across the middle East and Asia.