US imposes sanctions on Greek, Panama law firm for helping Iran shipping
The sanctions also target shipping agents and vessels that Treasury says helped Iran generate revenue for its military and nuclear programs.
- The Treasury Department announced sanctions on Wednesday against firms supporting Iran's shadow fleet network, which the administration claims is used to circumvent existing sanctions.
- Panamanian-Greek law firm Karnakis and Karnakis faces primary sanctions for supporting "illicit Iranian shipping activity for years, indirectly aiding Tehran's ability" to generate revenue for military and nuclear programs.
- Beyond the law firm, the Treasury sanctioned Singapore- and UAE-based shipping agents, members of the Karnakis-Kosmas and Ortega-Jones families, and a Syrian cement company linked to the IRGC's Quds Force.
- Secretary of the Treasury Scott Bessent warned that facilitators "must make a choice: Either you are with us or against us," pledging continued action against Iranian regime supporters.
- The Financial Crimes Enforcement Network issued subpoenas and information requests to banks in Europe investigating potential relationships with Iranian financial institutions under U.S. sanctions.
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The U.S. Treasury Department points to Karnakis and Karnakis for creating fictitious societies to hide owners of ships carrying Iranian oil and other products. Seven Panamanian-flagged cargo ships are vincu
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US Sanctions Law Firm, Shipping Companies and Seven Vessels Linked to Iran’s Shadow Fleet
The Treasury Department has expanded sanctions against Iran's international shipping networks, targeting companies, vessels and individuals accused of helping Tehran export petroleum and other commodities ... The post US Sanctions Law Firm, Shipping Companies and Seven Vessels Linked to Iran’s Shadow Fleet first appeared on [your]NEWS.
US Imposes New Wave of Sanctions Targeting Iran’s Shadow Fleet Networks
Treasury Secretary Scott Bessent announces a new set of sanctions against Iran, describing them as "an economic D-Day," in the Cash Room at the Treasury Department in Washington on Aug. 24, 2026. (Chip Somodevilla/Getty Images)
Treasury sanctions law firm over alleged Iran shipping ties
Bessent warned a law-firm corner office draws the same sanctions as illegal oil transfers at sea as Treasury named Karnakis and Karnakis and nine vessels on Oct. 21. · 16 sources across the spectrum on IJR News.
Washington accuses the company, based in Greece and Panama, of facilitating Iranian shipping networks for years – FinCEN investigation of a Greek bank and information requests to six other European banks
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