The United States has imposed new sanctions on Greek shipowner Antonis Margaritis, accusing him of facilitating Iranian oil exports through a network of companies and vessels that operate as part of Tehran’s so-called «shadow fleet».
According to the U.S. Treasury Department and its Office of Foreign Assets Control (OFAC), Margaritis used his extensive experience in the shipping industry to illegally transport Iranian crude, helping Tehran circumvent long-standing restrictions.
U.S. officials say that revenues from these exports are funneled into the development of advanced weapons systems and the financing of terrorist groups, posing a threat to the security of the United States and its allies. Treasury Secretary Scott Bessent said the sanctions «degrade Iran’s ability to fund terrorism and threaten our forces», underscoring Washington’s message that it will not tolerate cooperation with Tehran.
The sanctions target both Margaritis himself and a network of shipping companies he is said to control directly or indirectly. Among them are Marant Shipping and Trading S.A., based in Greece and the Marshall Islands, as well as Square Tanker Management Ltd., Comford Management S.A., and United Chartering S.A. Also blacklisted was Cristobal Marine Corp., linked to Rose Shipping Limited, which was sanctioned in December 2024.
Under the decision, all assets belonging to Margaritis and his companies that fall under U.S. jurisdiction are frozen, and U.S. persons and businesses are barred from engaging in transactions with them unless specifically authorized. Authorities warned that violations of the sanctions could result in severe civil and criminal penalties for anyone attempting to do business with the shipowner or his firms.
The move is part of Washington’s broader campaign to restrict Iran’s oil exports, which it sees as a critical source of funding for the regime. Targeting Margaritis and his network, U.S. officials said, represents another step in the maximum economic pressure strategy aimed at Tehran.
