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British American Tobacco to pay $635m for North Korea sanctions breaches
Source: BBC
British American Tobacco to pay $635m for North Korea sanctions breaches
25 April 2023
British American Tobacco is to pay $635m (£512m) plus interest to US authorities after a subsidiary admitted selling cigarettes to North Korea in violation of sanctions.
The US authorities said the settlement related to BAT activity in North Korea between 2007 and 2017.
BAT's head Jack Bowles said "we deeply regret the misconduct".
The US has imposed severe sanctions on North Korea over its nuclear and ballistic missile activities.
Tuesday's settlement was between BAT and America's Department of Justice (DOJ) and the Treasury Department's Office of Foreign Assets Control.
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Read more: https://www.bbc.com/news/world-us-canada-65393223
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