The United States has escalated its sanctions regime against Iran by targeting a Greek shipper involved in the transport of Iranian oil. This move is part of a broader strategy to curb Tehran’s ability to profit from oil exports in the wake of a Washington-brokered ceasefire in the region.
Key Facts
On Thursday, the US Treasury Department announced a new round of sanctions directed at Antonios Margaritis, a Greek shipping magnate, and his network of companies. These sanctions are part of a series aimed at disrupting Iran’s oil export capacity. Margaritis is accused of using his extensive experience in the shipping industry to aid in the illicit sale and transportation of Iranian petroleum.
The sanctions extend to nine companies based in Greece, Hong Kong, the Marshall Islands, and the United Arab Emirates, along with twelve vessels. Some of these vessels operate under ‘flags of convenience,’ which allow them to register in a country different from that of the owners.
Among the entities sanctioned is Changbai Glory Shipping Limited, based in the Marshall Islands. This company owns a Liberian-flagged ship that has reportedly transported over four million barrels of Iranian oil to China since March 2025. China remains the largest international buyer of Iranian oil, despite ongoing US efforts to restrict Tehran’s oil revenues.
Background
The US has intensified its sanctions on Iran’s energy sector following a ceasefire agreement between Israel and Iran, brokered by Washington in June. These sanctions are part of a broader strategy to limit Iran’s economic capabilities, particularly concerning its advanced weapons programs which are partly funded by oil revenues.
Timeline / What We Know
- The ceasefire between Israel and Iran took effect in June 2025.
- Since the ceasefire, the US has launched several rounds of sanctions targeting Iran’s ability to sell oil internationally.
- The latest sanctions were announced by the US Treasury Department on a Thursday, specifically targeting Antonios Margaritis and his associated network.
Official Reactions
The Treasury Department’s statement highlighted that Margaritis had “leveraged his decades of experience in the shipping industry to illicitly facilitate the transportation and sale of Iranian petroleum.” It also noted that the sanctioned operations “generate revenue that contributes to Iran’s advanced weapons programs.”
What’s Next
Following these sanctions, the international community may see further actions aimed at tightening economic pressures on Iran. The focus may remain on entities and individuals that facilitate Iran’s oil exports, potentially affecting global shipping operations and international oil markets.