The United States imposed new sanctions targeting a global network of companies and vessels owned by Greek shipper Antonios Margaritis to disrupt Iranian oil exports. Nine companies across Greece, Hong Kong, the Marshall Islands and the UAE, and 12 vessels, including those flying flags of convenience, were designated. Margaritis used decades of shipping experience to facilitate transportation and sale of Iranian petroleum. Sanctioned ships include a Liberian-flagged vessel owned by Changbai Glory Shipping Limited, which transported over four million barrels of Iranian oil to China since March 2025. The measures aim to reduce revenue that supports Iran's advanced weapons programs and follow earlier sanctions after a June ceasefire.
The United States has issued a new round of sanctions against Iran, seeking to disrupt oil exports by going after a global network of companies owned by a single Greek shipper. In a statement published by the US Treasury Department on Thursday, the government announced sanctions on companies and vessels owned by Antonios Margaritis. The sanctions follow several other rounds aimed at making it more difficult for Tehran to sell oil abroad.
Margaritis has leveraged his decades of experience in the shipping industry to illicitly facilitate the transportation and sale of Iranian petroleum, the statement notes. Several other vessels and operators are also being designated today for their role facilitating Iranian oil exports, which generates revenue that contributes to Iran's advanced weapons programs. Nine companies based in Greece, Hong Kong, the Marshall Islands and the United Arab Emirates were sanctioned, along with 12 vessels some of which carry flags of convenience from other nations.
Among those sanctioned was the Marshall Islands-based Changbai Glory Shipping Limited, the owner of a Liberian-flagged ship that since March 2025 alone has transported more than four million barrels of Iranian oil to China. China is the top international buyer of Iran's oil. The US has sought to penalise Iran's energy sector since a Washington-backed ceasefire between Israel and Iran came into effect in June.
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