Sanctions extend beyond Iran
The Trump administration on Thursday unveiled a new round of sanctions targeting 13 firms and eight ships involved in Iran’s oil commerce. The US Treasury Department stated the move targeted networks that stretched from Hong Kong to China, the UAE, and the Marshall Islands, which they blamed for facilitating Tehran’s exports of crude in violation of current bans.
Among blacklisted entities were Hong Kong-based Ares Shipping Limited and Hong Kong Hangshun Shipping Limited, along with Marshall Islands-based Comford Management. The action also targeted Greek national Antonios Margaritis, who has been cited as a central figure in organizing oil shipments through a network of companies and crude carriers.
Tankers flying worldwide
Some of the ships were named in the sanctions, such as Panama-flagged Adeline G and Kongm, and the Sao Tome and Principe-flagged Lafit. The State Department also imposed sanctions against two China-based operators who have been accused of operating oil terminals and warehouses connected to sanctioned Iranian exports.
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Tensions over nuclear standoff
The sanctions are imposed in a time of increased tensions. In June, Iran delayed nuclear negotiations with the US after joint US-Israeli airstrikes attacked its nuclear facilities. Although Tehran claims not to be developing atomic bombs, its foreign minister declared this week that the “moment for effective negotiations” with the US had not come yet. Nevertheless, Iran indicated it would keep up limited cooperation with the UN’s nuclear agency.
The newest sanctions reinforce Washington’s policy of disengaging Iran’s energy lifeline through international enforcement, while Tehran maintains that it won’t yield to pressure as the confrontation intensifies.
