US Treasury Sanctions Law Firm Aiding Iranian Shipping Networks
Summarized from The Times of Israel by baba
The U.S. Treasury Department sanctioned the Greek-Panamanian law firm Karnakis & Karnakis on Wednesday for allegedly aiding Iranian shipping networks. The firm is accused of setting up shell companies to hide the true owners of vessels carrying Iranian oil and other goods, indirectly funding Iran's activities. The Treasury also issued subpoenas to a Greek bank and requested information from other European banks over potential ties to Iran. These actions are part of ongoing U.S. efforts to block Iranian revenue streams amidst stalled negotiations over Iran's nuclear program.
The story in 5 lines · by baba
- US Treasury sanctioned law firm Karnakis & Karnakis for aiding Iranian shipping networks.
- The firm allegedly set up shell companies to hide owners of vessels carrying Iranian oil.
- A Greek bank is under investigation for potential ties to Iran via a FINCEN subpoena.
- Sanctions target entities supporting Iran's "shadow fleet" operations.
- The actions occur amid stalled U.S.-Iran negotiations over Iran's nuclear program.
The Times of Israel publishes in English. The key points are summarized above. Read The Times of Israel’s full report from the link at the top of the page.
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