US Sanctions Greek National, Shipping Network for Transporting Iranian Oil
The U.S. this week sanctioned Greek national Antonios Margaritis, his network of companies and other businesses, and vessels shipping Iranian energy products.
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The Office of Foreign Assets Control said Margaritis has helped ship Iranian oil and petroleum products for years, most recently operating the MS Enola, a vessel previously sanctioned by OFAC for moving Iranian oil. The agency this week sanctioned Greece- and Marshall Islands-based Marant Shipping and Trading S.A., as well as Marshall Islands-based Square Tanker Management Ltd., Comford Management S.A. and United Chartering S.A. for being used by Margaritis to move Iranian cargo. OFAC also sanctioned Cristobal Marine Corp., an entity owned by Rose Shipping, which was sanctioned by OFAC in December and which is part of Margaritis' "oil shipping operations."
The U.S. also sanctioned United Arab Emirates-based Ozarka Shipping - FZCO, which manages and operates the Antigua and Barbuda-flagged vessels Victory Ari and Sondos, along with the Gambia-flagged Katsuya. The designations also target Marshall Islands-based Changbai Glory Shipping Ltd., which owns the Liberian-flagged Lafit; British Virgin Islands-based Regal Liberty Ltd., the owner of the Hong Kong-flagged Giant; Hong Kong-based U Beacon Shipping Co. Ltd. and Hong Kong Hangshun Shipping Ltd., the registered owners of the Panama-flagged Adeline G and Kongm; and Hong Kong-based Ares Shipping Ltd., the owner of the Hong Kong-flagged Ares.
OFAC said the entities have helped ship millions of barrels of Iranian oil combined, including to China, or have carried out ship-to-ship transfers with U.S.-sanctioned vessels.