US Imposes New Wave of Sanctions Targeting Iran’s Shadow Fleet Networks
The United States announced new sanctions on October 21 targeting entities and vessels linked to Iran’s shadow fleet network. The Treasury Department’s sanctions designated a law firm, shipping agencies, and cargo vessels for helping Iran evade U.S. sanctions and transport goods.
The Treasury sanctioned Karnakis and Karnakis, a law firm based in Panama and Greece, for providing legal support for Iran’s shadow fleet shipping networks. The department said that the law firm had indirectly helped Iran generate funds for its nuclear, military, and weapons programs. Karnakis and Karnakis helped register shipping companies that own shadow fleet vessels used to ship hundreds of millions of dollars in Iranian petroleum, petrochemicals, steel, and other goods, according to the Treasury.
Sanctions Target Law Firm and Shipping Agencies
The Treasury also sanctioned Roxette Maritime Shipping and Trading S.A., a ship management company, and seven Panama-flagged cargo vessels it operates. The department said that three of the ships have been used to transport Iranian goods over the past year, including steel and petrochemical products. The designated cargo vessels include the Anemos, Destiny, Flamingo 1, Gloris, Harmony, Pride, and Prince.
Additionally, the Treasury imposed sanctions on Amigoz Singapore PTE. Ltd., a Singapore-based shipping agency, and Whales Shipping Line LLC, a Dubai-based maritime and logistics company. The department said that the two shipping agencies have directly aided shadow fleet operations in the transport of Iranian cargo across the globe.
Treasury Secretary Warns Facilitators
Treasury Secretary Scott Bessent warned facilitators that they must make a choice: either they are with the United States or against it. “Whether you are conducting illegal oil transfers at sea or sitting in the corner office of a law firm, if you are supporting the Iranian regime, we will find you and sanction you,” he said.
“Iran’s facilitators must make a choice: Either you are with us or against us. We know who you are, we know what you’re doing, and we will continue to take action.”
International Cooperation
State Department spokesman Tommy Pigott reiterated the administration’s pledge to work with America’s partners around the globe to isolate Tehran’s economy. “We call on governments, flag registries, port authorities, and the private sector to watch for the warning signs of shadow fleet activity and to stop doing business with anyone who helps Iran evade sanctions,” he said.
The United States has previously sanctioned 17 vessels linked to Iran’s shadow fleet network for transporting millions of barrels of Iranian crude oil, petroleum, and petrochemical products to markets in South Asia and East Asia.
Original Article: US Imposes New Wave of Sanctions Targeting Iran’s Shadow Fleet Networks | NTD — Ntd