China penalized for selling technology to Iran - they sell to more than Walmart that's for sure
As a result of the penalties, the U.S. government cannot go ahead with transactions with these companies, issue any new licenses and must suspend licenses that may have been issued for high-technology items controlled by the United States.
Boucher said 23 companies have now been punished under this law, but said he could not be specific about whether the cases involved transfer of unconventional weapons technology or missile technology.
Boucher also would not say whether it was unusual for a company from Spain, a NATO ally, to be on the list.
"Globally if we find somebody in whatever place that's violating the law, shipping the technology, then we apply the law," he said.
***I must ask M'Dear, how stringent are the punishments?