Greece says it is working with U.S. authorities after Washington announced Iran-related sanctions involving a law firm with Greek offices and disclosed an investigation into an unnamed Greek bank.
The Ministry of National Economy and Finance set out its response in an October 22 statement. It said Greek authorities were cooperating with American officials and other partners, and that Greece applies the sanctions currently in force. The ministry said officials were assessing the available information and taking appropriate measures under Greek, European Union and international law. It did not identify particular transactions or name a bank.
The statement also backed efforts against money laundering and terrorist financing.
U.S. Says Greek bank possibly involved
The Treasury Department’s October 21 action targeted Karnakis and Karnakis, a law firm based in Greece and Panama. Treasury alleged that the firm registered companies whose vessels carried Iranian oil, petrochemicals and steel, helping conceal the businesses behind those shipments. The official designation record lists addresses for the firm in Panama City and Piraeus. It also names five associated individuals, Roxette Maritime Shipping and Trading and seven Panama-flagged cargo vessels linked to that company.
Separately, Treasury said its Financial Crimes Enforcement Network, known as FinCEN, was investigating a Greek bank’s potential connections to Iran and its proxies. It described cooperation with European partners and the use of an administrative subpoena under the Bank Secrecy Act.
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