The U.S. government has announced new sanctions aimed at curbing the Iranian regime’s access to funds that it says are used to support terrorism and suppress dissent within Iran. According to the Department of State, these measures target entities that play a role in facilitating the trade of Iranian oil.
The Department of State is sanctioning two crude oil and petroleum product terminal operators based in China. The department states these companies have enabled the import of millions of barrels of Iranian oil using tankers already designated by the United States. This marks the fourth round of sanctions imposed by the U.S. on China-based terminal operators involved in handling Iranian crude, which officials say helps finance destabilizing activities abroad and within Iran.
In parallel, the Department of the Treasury is taking action against Antonios Margaritis and his network of companies for their alleged involvement in illicit trading of Iranian petroleum products. The Treasury’s measures also extend to other entities and vessels believed to be participating in shipping Iranian oil.
“The United States will continue to take action to implement National Security Presidential Memorandum 2. This directive imposes maximum pressure on the Iranian regime to deny it access to revenues that fund its destabilizing activities,” a statement from the Department said.
These sanctions are being implemented under Executive Order 13846, which penalizes significant transactions involving Iranian petroleum, and Executive Order 13902, focused specifically on Iran’s petroleum sector. The announcement represents another step in an ongoing campaign initiated after the issuance of National Security Presidential Memorandum 2, which set out a policy of maximum economic pressure against Iran.
Further details about these actions can be found through official press releases from the Department of the Treasury.
