US sanctions Karnakis & Karnakis law firm over alleged support for Iranian shipping

Reuters reports the US Treasury sanctioned the Greece- and Panama-based law firm on Oct. 21, alleging years of assistance to Iranian shipping networks. Al-Monitor says Treasury accused Karnakis & Karnakis of registering companies that own vessels in Iran’s so-called shadow fleet; five people tied to the firm, a ship management company and shipping agents were also targeted. Bloomberg reports Treasury is giving the firm’s clients one month to wind down.