US sanctions Karnakis & Karnakis for aiding Iranian shipping networks — Cyprus Mail

The US Treasury Department has imposed sanctions on the law firm Karnakis & Karnakis, which is based in Greece and Panama. The department said the firm had provided legal assistance to Iranian shipping networks for years.

Greek bank under review

The US Treasury Department’s Financial Crimes Enforcement Network, FinCEN, also issued an administrative subpoena to advance an investigation into a Greek bank’s possible ties to Iran. The ministry did not name the bank in its statement.

According to Cyprus Mail, FinCEN also sent requests for information to six other European banks. The requests concerned their relationships with Iranian financial institutions subject to US sanctions.

More current news is available on the UA.News Telegram channel Telegram.

Sanctions against shipping agents

The US Treasury Department also added shipping agents from Singapore and the United Arab Emirates to its sanctions list. The department said these agents directly assist the operations of Iran’s “shadow fleet.”

Karnakis & Karnakis did not immediately comment in response to journalists’ inquiries.