Curtiss-Wright Corp. may have violated U.S. sanctions on Russia after a blacklisted company acquired two of its longstanding customers, according to a securities filing by the manufacturer. Davidson, N.C.-based Curtiss-Wright disclosed the potential breach in a filing this week with the U.S. Securities and Exchange Commission. The potential sanctions violation is immaterial to the corporation, a Curtiss-Wright representative said. Curtiss-Wright said it voluntarily disclosed the matter in January to the U.S. Treasury Department’s Office of Foreign Asset Controls, which enforces U.S. sanctions. “Change of ownership resulted in beneficial ownership sanctions now capturing our two longtime customers,” the company said.

Source: Wall Street Journal August 21, 2020 18:50 UTC