Greek shipbroker focus of latest US sanctions against Iran

Antonios Margaritis, his network of companies, and nearly a dozen vessels involved in Iran’s shadow fleet were singled out by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) yesterday, the latest in a series of sanctions levied by the Donald Trump administration.

“Margaritis has leveraged his decades of experience in the shipping industry to illicitly facilitate the transportation and sale of Iranian petroleum,” OFAC stated in a release.

 In December 2024, OFAC sanctioned Journey Investment Company, Rose Shipping, and Passada Maritime the US believes are part of Margaritis’ oil shipping operations.

 Yesterday, OFAC added Margaritis’ Marant Shipping and Trading as well as other companies linked to him, including Square Tanker Management, Comford Management, and United Chartering.

“Today’s action against Margaritis and his network degrades Tehran’s ability to fund its advanced weapons programs, support terrorist groups, and threaten the safety of our troops and our allies,” said Secretary of the Treasury Scott Bessent.

A number of other companies and ships – mainly from the UAE, Hong Kong and the Marshall Islands – were also hit with sanctions.  Two Chinese terminal companies were also hit for their participation in Iranian oil buying.