Mossack Fonseca worked with oil firms owned by Iranian state despite sanctions

The Guardian

By Juliette Garside, David Pegg, Holly Watt and Helena Bengtsson

The law firm at the centre of the Panama Papers leak acted for an Iranian oil company that had been blacklisted by the US, the documents reveal. Mossack Fonseca realised it was working for Petropars Ltd in 2010 only when another client accidentally fell foul of the US sanctions that had been imposed on the energy firm. Sanctions: key questions answered What are they, how do they work and what do they mean to companies administering offshore firms Read more Petropars and the other client had been assigned the same PO box in the British Virgin Islands by Mossack Fonseca, and the address had been flagged by banks as linked to a blacklisted company.

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