U.S. Sanctions Law Firm Accused Of Setting Up Iran Shadow Fleet Shipping Companies

The U.S. Department of the Treasury has announced a new wave of sanctions under Operation Economic Outcast, targeting a law firm based in Greece and Panama.

Federal authorities have blamed the company for providing legal assistance to Iranian shipping networks and entities for several years.

The U.S. Treasury Department also identified 5 high-profile individuals who helped the firm conceal the true owners of these maritime companies.

The law firm had earlier established 3 shipping businesses that were involved in the Iranian oil trade, per the Office of Foreign Assets Control. The latest move extends to another Panama- and Greece-based company for which the law firm worked as a corporate agent.

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