FinCEN investigates Aegean Baltic Bank over transactions with Iran
What happened
US FinCEN is investigating Aegean Baltic Bank for suspicious transactions with Iran. JP Morgan American bank conducted a surprise audit of Aegean Baltic Bank 10 to 12 days ago, focusing on transactions with ShipOil Bunkers. Although JP Morgan found dollar transactions with ShipOil Bunkers legitimate, the shipping firm maintains transactions with Iran.
From bankingnews.gr
Why it matters
Aegean Baltic Bank serves as a primary financier for Greek shipowners. If US authorities impose sanctions on the bank regarding dollar transactions, its annual profitability could potentially drop from €13.5 million to between €5 and €6 million.
From bankingnews.gr
Who's involved
- GreeceThe country where Aegean Baltic Bank operates
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- GreeceSpeculative
Potential US sanctions on the Greek financial sector could affect investment and export revenue.
Keep exploring
The entities involved
-
Greece
country in Southeast Europe