The OverRuled: China Trade Controls Resource Center has been updated with the following actions:
- 21 Aug 2025 (OFAC):
The United States is taking actions to stem the flow of revenue the Iranian regime uses to fund its destabilizing activities, including its support for terrorism abroad and the oppression of its own people.
In this action, OFAC sanctioned Greek national Antonios Margaritis and his network of companies based in Greece and the Marshall Islands, for exploiting his status in the oil industry to illicitly trade in Iranian petroleum, as well as other entities based in the United Arab Emirates, Marshall Islands, British Virgin Islands, and Hong Kong, for their role facilitating Iranian oil exports, pursuant to EO 13902.
Concurrently, the Department of State imposed sanctions on two China-based crude oil and petroleum products terminal and storage operators that have facilitated the import of millions of barrels of illicit Iranian oil onboard multiple U.S.-designated tankers, pursuant to EO 13846. This action is the Department's fourth round of sanctions targeting China-based terminal operators, which play a vital role in the trade network for Iranian crude oil that funds Iran's terrorism abroad and destabilizes the region.
These actions are in furtherance of National Security Presidential Memorandum-2, which directs the imposition of maximum economic pressure on the Iranian regime.
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