A financial transaction involving one or more vessels linked to Islamic Republic of Iran Shipping Lines (IRISL) is among a large number of deal that have cost the JP Morgan Chase Bank an $88.3m penalty.

The US has not released details of the sanctions busting deals relating to an IRISL affiliated vessel or vessels.
The US bank has agreed to the costly settlement to avoid further action by Washington over the breaking of sanctions on Cuba, Iran and Sudan.

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