US Sanctions Greek, Panamanian Law Firm for Aiding Iran Shipping

The US Treasury Department has imposed sanctions on the law firm Karnakis & Karnakis, based in Greece and Panama, accusing it of providing legal assistance to Iranian shipping networks for years. The firm is alleged to have facilitated the transfer of capital and goods circumventing international sanctions, supporting Iran's 'ghost fleet'. The US Financial Crimes Enforcement Network also issued an administrative subpoena to investigate a Greek bank over potential ties to Iran and sent information requests to six other European banks.