US imposes sanctions on Greek, Panama law firm for helping Iran shipping
The Treasury also sanctioned shipping agents and family members it says helped Iran’s shadow fleet move cargo and disguise assets.
- 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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86 Articles
Al Arabiya
The Straits TimesGreece says it is implementing sanctions linked to Iran
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)
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