US imposes new sanctions on Iran’s oil trade

WASHINGTON

The US announced new sanctions Thursday targeting individuals and companies it alleged were facilitating Iran’s illicit oil sales.

The State Department said it sanctioned two China-based crude oil and petroleum products terminal operators accused of importing “millions of barrels” of Iranian crude onboard multiple US-designated tankers.

The Treasury Department also designated Greek national Antonios Margaritis, among others, along with his network of companies and vessels, for allegedly exploiting his position in the shipping industry to move Iranian petroleum. Several other vessels and operators were also designated for allegedly facilitating Iranian oil exports, which Washington said generates revenue that contributes to Iran’s advanced weapons programs.

“These actions degrade Tehran’s ability to fund its advanced weapons programs, support terrorist groups, and threaten the safety of our troops and our allies,” Treasury Secretary Scott Bessent said in a statement.