Law firm in service of Iran? US exposes the aid network
The US Treasury imposed sanctions on a Greek-Panamanian law firm, alleging it assisted Iranian shipping networks for years by setting up shell companies that concealed shipowners transporting oil. Concurrently, an investigation was opened against a Greek bank suspected of ties with Iran.
The US Treasury imposed sanctions on the law firm Karnakis & Karnakis, operating in Greece and Panama, alleging it assisted Iranian shipping networks for years. According to the US administration, the firm set up shell companies that concealed the owners of ships transporting millions of barrels of oil, petrochemical products, and Iranian steel. The proceeds from sales allegedly aided Iran's Islamic Revolutionary Guard Corps Quds Force and the Houthis in Yemen. US Treasury Secretary Scott Bessent delivered a sharp message to entities aiding the Tehran regime. Meanwhile, the US Financial Crimes Enforcement Network opened an investigation into a Greek bank suspected of ties with Iran, and information requests were sent to six additional European banks. The sanctions come amid continued US pressure on Iran, including a naval blockade of its ports.