Shipping company in Greece fined $2.4B for breaching Iran sanctions

…In February, the manager of Empire Navigation had said the company was investigating whether Iranian oil had been transferred onto one of the vessels it manages. The announcement came after the advocacy group United Against Nuclear Iran said in a Feb. 15 letter that it believed Iranian oil was transferred to the Suez Rajan from a ship called the Virgo on Feb. 13. Suez Rajaz Limited pleaded guilty April 19. Empire Navigation faces three years of probation under a plea agreement with the United States. Circumvention of the sanctions against Iran can have serious consequences, such as losing access to the US dollar financial system or having all assets seized.