US Treasury reaches settlement with Microsoft over sanctions violations

The US Treasury Department has reached a settlement with Microsoft Corp over the tech firm’s apparent sanctions violations, Report informs referring to Reuters.

Microsoft has agreed to remit about $3 million to settle its potential civil liability for more than 1,300 apparent sanctions violations in relation to restrictions on Cuba, Iran, Syria and Russia involving the exportation of services or software from the US to sanctioned jurisdictions, the Treasury Department said in a statement.

The Treasury Department added that Microsoft’s conduct was “non-egregious and voluntarily self-disclosed.”