US targets Greek shipping magnate in latest Iran sanctions

 

The United States has announced a fresh wave of sanctions against Iran, focusing on disrupting Tehran’s oil exports by targeting a global shipping network linked to Greek businessman Antonios Margaritis.

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

“Several other vessels and operators are also being designated today for their role facilitating Iranian oil exports, which generates revenue that contributes to Iran’s advanced weapons programs.”

Treasury said it was designating nine companies and 12 vessels with entities based in Greece, Hong Kong, the Marshall Islands and the United Arab Emirates.

The sanctions are part of Washington’s ongoing effort to choke off Iran’s ability to profit from its energy sector, which remains a key source of revenue despite existing restrictions.

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