WASHINGTON, Nov 14 (Reuters) - The U.S. Treasury
Department said on Thursday that New York-based insurer
MetLife's ( MET ) unit, American Life Insurance Co, agreed to
settle its potential civil liability for over 2,300 apparent
violations of sanctions against Iran.
The Treasury's Office of Foreign Assets Control announced a
$178,421 settlement with the MetLife ( MET ) unit.
The apparent violations related to insurance policies
provided to entities in the United Arab Emirates that were owned
or controlled by the government of Iran, the Treasury Department
added.
The settlement amount reflected OFAC's determination that
the apparent violations were voluntarily self-disclosed and were
not egregious, the department added.
Washington's sanctions on Iran ban nearly all U.S. trade
with the country, block the Iranian government's assets in the
United States and prohibit U.S. foreign assistance and arms
sales, according to the Congressional Research Service. The U.S.
and Iran have had tense relations for decades.