U.S. Sanctions Greek Shipper, China Ports for Carrying Iran Oil

The U.S. has sanctioned a Greek shipper and two Chinese port-terminal operators accused of helping transport Iranian oil, expanding its “maximum pressure” campaign against Tehran, Ben Bartenstein and Weilun Soon reported for Bloomberg News.

Targeted firms include Marant Shipping and Trading S.A., Square Tanker Management Ltd., Comford Management S.A., and United Chartering S.A. (Photo: United Chartering Ltd.) 

Antonios Margaritis was designated along with a network of companies he oversees in Greece and the Marshall Islands, the Treasury Department said.

Separately, the State Department blacklisted two Chinese terminal and storage operators, including one in what it called “the largest entry point for Iranian crude oil into China.”

Washington has been escalating measures against Iran in an effort to choke off its overseas crude sales, a vital source of revenue for the OPEC member. Still, Tehran has proven adept at circumventing restrictions, with China long serving as a major destination.

“Margaritis has leveraged his decades of experience in the shipping industry to illicitly facilitate the transportation and sale of Iranian petroleum,” the Treasury said.

Targeted firms include Marant Shipping and Trading S.A., Square Tanker Management Ltd., Comford Management S.A., and United Chartering S.A.

The State Department also sanctioned Qingdao Port Haiye Dongjiakou Oil Products Co., Ltd. in Shandong and Yangshan Shengang International Petroleum Storage and Transportation Co., Ltd. in Zhejiang, alleging they received Iranian crude from sanctioned ships operated by the National Iranian Oil Co.