Richards jeweller has been fined a total of $1,000 for refusing to take the jewellery off a woman in a wheelchair in the United States.
In a statement to The Jerusalem Times, the jewellier said it had no intention of being taken to court and was prepared to comply with the sanctions.
“We have not sought to impose sanctions against the owner of the store and will continue to operate our business as usual,” the statement said.
On Friday, the US Treasury Department said it was seeking to impose additional sanctions on some of the world’s largest jewellering companies over their handling of sanctions against Iran.
The sanctions were announced in January to punish the Iranian government for its alleged support of terrorism, human rights abuses, and violations of US laws.
The move came as US President Donald Trump is preparing to meet with Russian President Vladimir Putin at the G20 summit in Hamburg.
In the meantime, jewellry shops across the US are being forced to close, and more than 1,000 shops in California and Illinois have closed since January, according to the Associated Press.
In a separate statement, a jewellery chain that is part of the group of companies being targeted by the sanctions said that its lawyers have filed for an injunction to halt the imposition of further sanctions on the business.
The US Treasury said on Thursday it would impose sanctions on two of the groups that have been named in the announcement, and on the firms that are part of those companies.
It did not identify the firms or names of the individuals.
The United States imposed sanctions on Iran in the 1980s, when it became a nuclear power.
The US and its allies have repeatedly accused Tehran of trying to develop nuclear weapons.
Iran denies this and says it is pursuing a peaceful nuclear program.
Iran has said it is ready to give up its nuclear program in exchange for relief from economic sanctions imposed by the US and other Western countries.
The Trump administration has threatened to withdraw from the nuclear deal reached in 2015, and has said the US is ready for talks with Iran.