43 shipments of reflective license plate sheeting over 2 years
54 total sanction violations
$10,000,000 fineAlibaba suggests it’s about US$6 per metre square for reflective sheeting on the slightly pricy side. Let’s say it costs US$5/m^2 for 3M to make their fanciest sheeting and pay all costs associated, which is a total guess probably overestimated by 10 times at least. 3M has 50 yards per roll maximum 48" width, which is 55.7m^2 and therefore costs 3M $278.5 maximum per roll.
Resellers are charging about US $1500 retail for one roll of a different less fancy sheeting, let’s say 3M is giving a great bulk discount to their Iran reseller and selling the fancy ones at $750 per roll.
If each shipment is one 40’ shipping container, that’s about a thousand rolls per container or US$750,000 gross revenue and $278,500 cost, which leaves a profit of $471,500 per container.
43 shipments × $471,000 = $20,274,500
Therefore the fine is maybe a maximum 50% of their profits from breaking sanctions. What an incentive to not do it again.
Therefore the fine is maybe a maximum 50% of their profits from breaking sanctions. What an incentive to not do it again.
Exactly, it’s also about 0.03% of their total annual revenue. That’ll show them!
So now it’s -7M?
