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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced that BIOMIN America, Inc. ("BIOMIN America"), an animal nutrition company based in Overland Park, Kansas, has paid $257,862 to settle its potential civil liability for apparent violations of the Cuban Assets Control Regulations, 31 C.F.R. part 515 (CACR). Specifically, between the approximate dates of July 2012 and September 2017, BIOMIN America and its owned or controlled foreign entities engaged in a total of 30 sales of agricultural commodities produced outside the United States to Alfarma S.A. in Cuba without authorization from OFAC, which resulted in 44 apparent violations of § 515.201 of the CACR. BIOMIN America could potentially have availed itself of such authorization but failed to take the steps necessary to do so. Instead, BIOMIN America developed a transaction structure that it incorrectly determined would be consistent with U.S. sanctions requirements. OFAC determined that BIOMIN America voluntarily disclosed the Apparent Violations, and that the Apparent Violations constitute a non-egregious case.
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