The US has imposed sanctions on Greek shipbroker Antonis Margaritis, along with a network of shipping companies under his control, as part of new measures targeting individuals and companies accused of facilitating the trade of Iranian oil. This widens the United States’ campaign of “maximum pressure” on Tehran. The measures also include penalties against two Chinese oil terminal operators.
According to the US Treasury Department, the Greek shipbroker allegedly faces sanctions due to the use of his long-standing expertise in the maritime industry to “illegally facilitate the transportation and sale of Iranian petroleum.” His companies—Marant Shipping and Trading S.A., Square Tanker Management Ltd., Comford Management S.A., and United Chartering S.A.—have all been added to the sanctions list.
Today, Treasury is taking action to further reduce Iran’s revenue used to support terrorism.
Treasury’s Office of Foreign Assets Control is disrupting Tehran’s oil exports by imposing sanctions on Greek national Antonios Margaritis, his network of companies, and nearly a dozen…
— Treasury Department (@USTreasury) August 21, 2025
Chinese terminals under scrutiny as US imposes sanctions on Greek shipbroker and others
At the same time, aside from Greek shipbroker Margaritis, the US State Department imposed sanctions on Qingdao Port Haiye Dongjiakou Oil Products Co., Ltd. and Yangshan Shengang International Petroleum Storage and Transportation Co., Ltd. The two companies are accused of receiving shipments of Iranian crude supplied by the National Iranian Oil Co. on vessels already sanctioned by Washington.
The facilities, located in Qingdao, Shandong Province, and Yangshan in Zhejiang Province, are described as critical gateways for Iranian crude entering China. US officials noted that the Qingdao terminal alone received an estimated 15.5 million barrels of Iranian oil in June, according to data provider Kpler.
A strategic trade corridor
China has emerged as a central hub for Iranian oil exports, despite US efforts to choke off this vital revenue stream for Tehran. The ports around Qingdao and Zhoushan have increasingly become conduits for sanctioned shipments, particularly through privately managed terminals.
Earlier this year, a provincial port group in Shandong warned that state-managed terminals would no longer accept sanctioned tankers, shifting the trade toward private operators.
A broader campaign against Tehran with US sanctions on Iranian oil export facilitators
The latest sanctions come on those facilitating Iranian oil exports, including on Greek shipbroker Margaritis, just weeks after the US Treasury carried out its largest enforcement action against Iran in seven years, targeting a network linked to Hossein Samhani, son of a senior adviser to Iran’s Supreme Leader Ayatollah Ali Khamenei.
Washington maintains that Iran’s oil sales continue to fund destabilizing activities across the Middle East. By targeting both shipping intermediaries and storage operators, US officials aim to further limit Iran’s ability to bypass sanctions, even as Tehran continues to find alternative pathways to export crude—most notably through China.
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