US fines software company SAP $8m for breach of Iran sanctions

Prosecutors say company will pay penalties in acknowledging allegations it illegally exported products to Iran

The US said the German company would have faced stiffer penalties had it not voluntarily disclosed activities that breached American sanctions against Iran. AP 

US prosecutors said on Thursday that software company SAP will have to pay $8 million in penalties after it acknowledged it illegally exported its products to Iran.

They said the German company would have faced stiffer penalties had it not voluntarily disclosed the activities, which breached US sanctions against Iran.

The company agreed to the penalties as part of an agreement with the US departments of justice, commerce and treasury.

In a statement, SAP said it welcomed the resolution.

Several senior US diplomats will visit the Middle East in the next few days to update officials on indirect talks between Tehran and Washington, which are being enabled by third parties in Vienna.

President Joe Biden’s administration is considering a reversal of some of the most stringent sanctions imposed on Iran by former president Donald Trump.

It wants to bring Tehran back into compliance with the 2015 nuclear accord, which Mr Trump abandoned.