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10:03 am 07 Apr 2023

Microsoft agrees to $3 million settlement for sanctions violations

symbol	Price	Change	%Change
MSFT	$291.60	7.26	2.55

The United States and Microsoft Corp on Thursday reached an agreement on the tech company’s apparent violations of sanctions and export controls, which it has voluntarily disclosed, the government and the company said.

Microsoft has agreed to transfer approximately $3 million to settle its potential civil liability for more than 1,300 apparent sanctions violations related to restrictions on Cuba, Iran, Syria and Russia related to the export of services or software from the United States to sanctioned jurisdictions, the US Treasury Department, the department said in a statement.

Much of the breaches that took place between 2012 and 2019 involved blocked Russian companies or individuals in Ukraine’s Crimea region and were a result of Microsoft’s failure to identify and prevent use of its products by banned parties, the Treasury Department said.