The world’s biggest online retailer admitted that was working against the law.
On Friday, in a 10-K, Amazon revealed that some trade ties with Iran were against U.S sanctions. Also Amazon warned that it may be penalized after a regulatory review of the activities.
In the “Other Contingencies” section, Amazon determined that between January 2012 and December 2016 it had “processed and delivered orders of consumer products for certain individuals and entities located outside Iran covered by the Iran Threat Reduction and Syria Human Rights Act or other United States sanctions and export control laws. The consumer products included books, music, other media, apparel, home and kitchen, health and beauty, jewelry, office, consumer electronics, software, lawn and patio, grocery, and automotive products.”
According to ZeroHedge Amazon said it has “voluntarily reported these orders to the United States Treasury Department’s Office of Foreign Assets Control and the United States Department of Commerce’s Bureau of Industry and Security.”
Bloomberg stated that the violations are the result of then-President Barack Obama’s Iranian sanctions.This law imposes civil penalties and takes other action against foreign subsidiaries of U.S. companies engaging in transactions with Iran.
Amazon clarified the violations as: “consumer products sold to individuals and unspecified groups controlled or owned by the Iranian government; consumer products valued at approximately $50 for an Iranian embassy located in a country other than Iran; consumer products valued at approximately $1,300 for an individual designated under Executive Order 13224; consumer products valued at approximately $2,400 for an entity owned or controlled by the Iranian government; and consumer products valued at approximately $250 for an individual who may have been acting for an entity designated under Executive Order 13382 and owned or controlled by the Iranian government. The consumer products included books, other media, apparel, home and kitchen, jewelry, office, toys, consumer electronics, software, health and beauty, pet products, and lawn and patio.”
Amazon also said that they are “unable accurately to calculate the net profit attributable to these transactions” and said it does “not plan to continue selling to these accounts in the future.”
All this was happening while Barack Obama was in the Office and it shows how unsuccessful Obama’s sanctions really are.
Now we can figure out why these people are against Trump. They’ve been breaking the law and getting by with it too long and now are being exposed.
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