Greek Finance Ministry Announces Sanctions Enforcement Against Iran

Reuters reported on Thursday, October 22, 2026, that the Ministry of Finance of Greece is actively enforcing existing sanctions linked to the Islamic Republic.

The ministry confirmed its support for efforts aimed at effectively combating money laundering and the financing of terrorism.

The Greek Ministry of Finance issued this statement following an announcement by the US Department of the Treasury that, as part of its “Economic Exclusion” operations, it had sanctioned five individuals, four companies and institutions, as well as nine vessels connected to the Islamic Republic’s “shadow fleet.”

The statement confirms that one of the entities added to the sanctions list is the law firm “Karnakis & Karnakis,” which operates in Greece and Panama and aided in the movement of hundreds of millions of dollars’ worth of Iranian oil, petrochemical products, and steel by registering shell companies and concealing the true owners of vessels.

The Greek Ministry of Finance stated that it had taken note of the US Treasury Department’s statement, adding: “All available information is being evaluated, and appropriate measures are being taken in accordance with established procedures and applicable national, EU, and international law.”

In its report, Reuters also cited the US Treasury Department as stating that the US Financial Crimes Enforcement Network (FinCEN) issued an administrative subpoena to advance its investigation into an unnamed Greek bank.