Operation Economic Outcast Targets Iran’s Shadow Fleet Networks

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. 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.

Secretary Bessent

Today, as part of Operation Economic Outcast, Treasury sanctioned Panama- and Greece-based law firm Karnakis and Karnakis, shipping agents, and vessels which have supported illicit Iranian shipping activity, indirectly aiding Tehran’s ability to generate revenue to fund its military, weapons, and nuclear programs. Throughout Operation Economic Outcast, Treasury has continued to coordinate with counterparts in Europe and around the world to sever the Iranian regime’s remaining economic lifelines. https://t.co/IguiXfHEIz

— Treasury Department (@USTreasury) October 21, 2026

… military, weapons, and nuclear programs. Throughout Operation Economic Outcast, Treasury has continued to coordinate with counterparts in Europe and around the world to sever the Iranian regime’s remaining economic lifelines.