The U.S. has initiated new measures to restrict Iran's exports by sanctioning a Greek-Panamanian law firm and several ships. These sanctions particularly focus on shipping networks and service providers related to the export of Iranian goods.
New Sanctions and Targeting Shipping Networks
The U.S. Treasury Department announced yesterday that the company Karnakis and Karnakis has been sanctioned for creating corporate structures for owners of ships that transport hundreds of millions of dollars worth of Iranian oil, liquefied gas, petrochemicals, and steel. In this context, five individuals associated with these activities have also been identified and sanctioned.
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Among the sanctioned companies is Roxette Maritime Shipping and Trading, which manages seven cargo ships and general cargo vessels flagged in Panama and Greece. Additionally, the U.S. Treasury has identified the companies Anemos, Gloris, and Pride, which transported Iranian shipments last year. Other sanctioned ships include Destiny, Flamingo 1, Harmony, and Prince.
New Sanctions as Part of Economic Isolation Operations
The company Amigoz Singapore, which has acted as a port representative for a shipment of light Iranian crude oil and provided fueling services to the shadow tanker Zixuan, has also been sanctioned. The U.S. Treasury considers this company linked to networks associated with Iranian shipping figure Mohammad Hossein Shamakani.
The Dubai-based company Whales Shipping Line has also been sanctioned for supporting Amigoz and acting as a shipping representative for a company accused of purchasing Iranian petrochemicals. Two support ships of this company, operating under the UAE flag, namely Whales Diamond and Whales Pearl, are also on the sanctions list.
These actions are part of an economic isolation operation launched in August, aimed at severing Iran's connections to international financial and shipping services. U.S. officials are simultaneously investigating the potential connection of a Greek bank with Iran, indicating an expansion of this campaign from ships and owners to lawyers, representatives, and financial suppliers.
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