NextFin news, On August 21, 2025, in Washington, D.C., the US Department of the Treasury announced new sanctions targeting a network of companies and vessels involved in the transportation and sale of Iranian oil. The sanctions specifically target Greek national Antonios Margaritis, his network of companies, and nearly a dozen vessels that form part of Iran's so-called "shadow fleet."
The Office of Foreign Assets Control (OFAC) of the US Treasury stated that Margaritis used his extensive experience in the shipping industry to facilitate the illegal transportation and sale of Iranian oil, thereby undermining US efforts to restrict Iran's oil exports. The sanctions aim to disrupt this network and further limit Iran's ability to export oil illicitly.
The US Treasury's announcement emphasized that these measures are part of ongoing efforts to enforce sanctions against Iran's oil sector, which the US government views as a critical source of revenue for activities it opposes. The sanctions include asset freezes and prohibitions on transactions with the designated individuals and entities.
This action follows previous US sanctions targeting Iran's oil exports and related shipping activities, reflecting continued US policy to pressure Iran economically. The sanctions were announced publicly on August 21, 2025, and apply globally to any entities or individuals engaging with the designated parties.
The US Treasury Department's official statement was reported by Ukrainian National News (UNN) on August 21, 2025, providing detailed information about the sanctions and the individuals and vessels involved.
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