Treasury Targets Iranian Oil Exports and Shadow Fleet

Actions Further Reduce Iran’s Revenue Used to Support TerrorismWASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is further disrupting Iran’s oil exports by imposing sanctions on Greek national Antonios Margaritis, his network of companies, and nearly a dozen vessels involved in Iran’s shadow fleet. Margaritis has leveraged his decades of experience in the shipping industry to illicitly facilitate the transportation and sale of Iranian petroleum. 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.“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.