US sanctions Panama- and Greece-based law firm it accuses of fronting for Iran's shadow fleet

The US Treasury on 21 October sanctioned Karnakis and Karnakis, a law firm based in Panama and Greece, and five people acting for it, accusing the firm of registering companies that own vessels in Iran's shadow fleet. Treasury says those ships carried hundreds of millions of dollars' worth of Iranian steel, oil and petrochemicals. It also designated Roxette Maritime Shipping and Trading, which it says manages seven Panama-flagged ships that carried Iranian-origin cargo in the past year, and identified those ships as blocked property. Singapore-based agent Amigoz Singapore and Dubai's Whales Shipping Line, owner of two UAE-flagged support vessels, were also sanctioned. Treasury's FinCEN issued a subpoena in an investigation into a Greek bank's possible ties to Iran.

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