The US Treasury Department on Wednesday imposed new Iran-related sanctions targeting five individuals, four companies and nine vessels, including a Panama-based law firm and shipping businesses linked to Singapore and the United Arab Emirates.
According to the Treasury's Office of Foreign Assets Control (OFAC), the newly designated companies include Panama-based law firm Karnakis and Karnakis, Roxette Maritime Shipping and Trading, Singapore-based Amigoz Singapore, and UAE-based Whales Shipping Line.
The sanctions also target five individuals based in Panama and nine vessels linked to the designated shipping companies. Seven of the vessels are Panama-flagged cargo ships and bulk carriers, while two are UAE-flagged crew and supply vessels.
The measures follow another round of US sanctions on October 15 targeting 16 individuals and 10 entities accused of helping Iran circumvent financial restrictions, including Iraq's International Development Bank for Investment and Finance.
The latest designations form part of Washington's Operation Economic Outcast campaign , launched in August to restrict Iranian financial and commercial networks that US authorities accuse of supporting Tehran's military activities, missile development, cyber operations and the Islamic Revolutionary Guard Corps (IRGC).
Under US sanctions rules, assets belonging to designated individuals and entities within American jurisdiction are generally blocked, and US persons are generally prohibited from conducting transactions with them unless authorized.
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