British American Tobacco Settles for $629M Over North Korea Sanctions Breaches
TL;DR Summary
British American Tobacco has agreed to pay over $635 million as a penalty for selling cigarettes to North Korea through an intermediary in Singapore, violating American sanctions. The company and its Singapore subsidiary secretly continued to operate the venture through a third party, an independent conglomerate based in Singapore, federal prosecutors said. The settlement is the biggest in the US Department of Justice's history related to sanctions on North Korea. The company apologized for "misconduct arising from historical business activities that led to these settlements."
Topics:nation#british-american-tobacco#business#north-korea#sanctions#singapore#us-department-of-justice
- British American Tobacco Pays U.S. $635 Million for North Korea Cigarette Scheme The New York Times
- British American Tobacco to pay $635m for North Korea sanctions breaches BBC
- British American Tobacco to pay $629M for violating North Korea sanctions NPR
- Tobacco giant to pay more than $635 mln in North Korea sanctions case FRANCE 24 English
- British American Tobacco reaches record $629M settlement with US over sales to North Korea Anadolu Agency | English
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