The United States announced new sanctions on Oct. 21 targeting entities and vessels linked to Iran’s shadow fleet network.
The Treasury Department’s sanctions designated a law firm, shipping agencies, and cargo vessels for helping Iran evade U.S. sanctions and transport goods. The entities were sanctioned under Executive Order 13902, which targets key sectors of the Iranian economy, including its petroleum and petrochemical sectors, to prevent the Iranian regime from funding its nuclear program, missile development, and terrorism.
Wednesday’s sanctions come nearly two months after the Trump administration announced Operation Economic Outcast on Aug. 24. The operation, aimed at pressuring Tehran to make a deal with Washington, has included multiple rounds of sanctions targeting Iran and entities and individuals helping the regime evade U.S. sanctions.
The Treasury sanctioned Karnakis and Karnakis, a law firm based in Panama and Greece, for providing legal support for Iran’s shadow fleet shipping networks. The department said Wednesday that the law firm had indirectly helped Iran generate funds for its nuclear, military, and weapons programs.
Karnakis and Karnakis helped register shipping companies that own shadow fleet vessels used to ship hundreds of millions of dollars in Iranian petroleum, petrochemicals, steel, and other goods, according to the Treasury.
State Department spokesman Tommy Pigott said the law firm established companies used as “fronts for networks selling millions of barrels of Iranian oil to benefit the Islamic Revolutionary Guard Corps-Qods Force and the Houthis.”
Five people tied to the law firm were also designated by the Treasury. The sanctioned individuals include Sofianos Karnakis Kosmas, Konstantinos Karnakis Kosmas, Pedro Ortega Jones, Roberto Ortega Jones, and Ioanis Karnakis Kosmas.
The Treasury also sanctioned Roxette Maritime Shipping and Trading S.A., a ship management company, and seven Panama-flagged cargo vessels it operates. The department said three of the ships have been used to transport Iranian goods over the past year, including steel and petrochemical products.
The designated cargo vessels include the Anemos, Destiny, Flamingo 1, Gloris, Harmony, Pride, and Prince.
The Treasury also imposed sanctions on Amigoz Singapore PTE. Ltd., a Singapore-based shipping agency, and Whales Shipping Line LLC, a Dubai-based maritime and logistics company. The department said the two shipping agencies have directly aided shadow fleet operations in the transport of Iranian cargo across the globe.
“Whether you are conducting illegal oil transfers at sea or sitting in the corner office of a law firm, if you are supporting the Iranian regime, we will find you and sanction you,” Treasury Secretary Scott Bessent said in a statement.
“Iran’s facilitators must make a choice: Either you are with us or against us. We know who you are, we know what you’re doing, and we will continue to take action.”
Under Wednesday’s sanctions, any property of the designated entities in the United States or in the possession of U.S. persons will be blocked and must be reported to the Treasury’s Office of Foreign Assets Control. Any entities owned 50 percent or more by blocked persons will also be blocked as a result of the sanctions.
On Wednesday, Pigott reiterated the administration’s pledge to work with America’s partners around the globe to isolate Tehran’s economy.
“We call on governments, flag registries, port authorities, and the private sector to watch for the warning signs of shadow fleet activity and to stop doing business with anyone who helps Iran evade sanctions,” he said.
Earlier this month, the United States sanctioned 17 vessels linked to Iran’s shadow fleet network for transporting millions of barrels of Iranian crude oil, petroleum, and petrochemical products to markets in South Asia and East Asia.
The Treasury’s latest sanctions were announced a day after Iranian President Masoud Pezeshkian called for U.S. sanctions to be lifted before negotiations could move forward between the United States and Iran, according to Turkey’s state-run Anadolu News Agency.
In addition to the sanctions targeting the regime, the U.S. military has continued to enforce a naval blockade of Iranian ports. As of Oct. 17, U.S. forces had redirected 138 commercial vessels to ensure compliance with the blockade, according to U.S. Central Command.
“Threats and sanctions must be practically lifted in action, so that the ground for dialogue can be provided,” Pezeshkian wrote in an X statement on Wednesday. “One cannot increase the intensity of sanctions and pressures every day, close the paths of interaction, and simultaneously speak of negotiation. Dialogue with the language of threats and pressure has no meaning.”
