Warning on US sanctions enforcement

US law firm Chalos has issued warnings to clients in the shipping, logistics, and marine insurance sectors regarding the US Department of the Treasury's announcement of a wide-sweeping sanctions campaign branded "Operation Economic Outcast", which doubles down on its efforts to economically subdue Iran and its enablers. The Treasury Department described the event as an economic "D-Day" aimed at closing off every financial channel that sustains the Iranian regime and the Islamic Revolutionary Guard Corps and warned that it has mapped the networks, facilitators, and financial channels Iran uses to smuggle oil, evade sanctions and fund terrorism.