Key facts
- US Treasury sanctioned law firm Karnakis and Karnakis for supporting Iranian shipping.
- FINCEN issued subpoenas to a Greek bank and information requests to six other European banks.
- The Shipoil network, including Greek citizens and companies, was sanctioned for providing bunkering services to Iran-linked ships.
- Altomare Shipping was sanctioned on November 21, 2025, for alleged involvement in transporting Iranian crude oil.
The US Treasury Department has imposed sanctions on the Panamanian and Greek law firm Karnakis and Karnakis, alleging it has supported Iranian shipping for years. The Financial Crimes Enforcement Network (FINCEN) also issued an administrative subpoena to a Greek bank and requested information from six other European banks regarding potential ties to sanctioned Iranian financial institutions.
Separately, the US has sanctioned the Shipoil network, which includes Greek citizens and companies, for providing bunkering services to vessels linked to Iran's oil sector. According to the Treasury, since at least 2023, Shipoil companies have coordinated with sanctioned Iranian entities like the National Iranian Tanker Company (NITC). Specific operations in 2026 involved Alberto Tsoris coordinating the refueling of the tanker MEDNA, transporting oil for Iran's armed forces, and Georgi Tsoris providing services to vessels linked to the Islamic Republic of Iran Shipping Lines (IRISL).
Greek shipping company Altomare Shipping was also sanctioned on November 21, 2025, for its alleged involvement in transporting Iranian-origin crude oil. The company denies wrongdoing and is cooperating with authorities.