US authorities are stepping up scrutiny of financial and shipping networks that may be linked to Iran. The US Financial Crimes Enforcement Network (FinCEN) has announced that it is investigating a Greek bank over possible links to Tehran and organisations affiliated with it. The US Treasury Department did not name the bank.
FinCEN has also sent requests for information to six other European banks to investigate their links to Iranian financial institutions subject to US sanctions.
The moves are part of the US Treasury Department’s “Economic Outcast” operation, which targets networks that, according to Washington, facilitate the movement of Iranian products and the evasion of sanctions.
Companies sanctioned
As part of the same operation, the department announced sanctions against the law firm Karnakis and Karnakis, which is based in Panama and has a presence in Piraeus. According to US authorities, the firm provided services for years to set up shipping companies allegedly used to transport Iranian steel, oil and petrochemical products.
According to the US Treasury Department’s announcement, the sanctions also include Roxette Maritime Shipping and Trading S.A., which has a presence in Piraeus, and which the department links to the management and operation of seven vessels. US authorities say that three of the vessels are alleged to have carried cargoes of Iranian origin over the past year, including petrochemicals and steel products. All seven vessels were also placed under sanctions.