US Sanctions Law Firm and 9 Vessels in Iran's Shadow Fleet

The US Office of Foreign Assets Control (OFAC) added the law firm Karnakis & Karnakis and the companies Amigoz Singapore, Whales Shipping Line, and Roxette Maritime to the sanctions list related to Iran.

The sanctions included five individuals and nine vessels, designated under Executive Order 13902, as part of a campaign targeting Iran's so-called shadow fleet.

The office issued two new general licenses for Iran, GG and HH, in addition to the Russian General License 131K, and removed several listings related to North Korea and Belarus.

This step comes as part of Operation Economic Outcast announced by the US Treasury, targeting transport and financing networks linked to sanctioned activities.

What Do These Terms Mean?

Shadow Fleet: Vessels that often operate under unclear ownership and operational signals, used to transport oil away from oversight and sanctions.

Executive Order: A decision issued by the President of the United States that grants executive authority to the administration and serves as a legal basis for imposing sanctions.

General License: An authorization issued by the Treasury allowing certain transactions that were previously prohibited under sanctions.

Sanctions Listing: The addition of a person, company, or vessel to prohibition lists, restricting their transactions with Americans and freezing their assets in the US.