The U.S. and UK imposed new sanctions on networks enabling Iran’s oil exports, hitting shipping companies, petrochemical firms, and storage operators.
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| Iranian oil tanker near southern Khark coast (2015 photo by Khosro Heyratnegari, CC BY-SA 4.0) |
On August 21, 2025, both the United States and the United Kingdom announced fresh sanction measures targeting individuals and entities that facilitate Iranian crude oil exports, which Western authorities argue help fund Tehran’s regional proxy activities.
In Washington, a coordinated effort by the U.S. Treasury and State Departments unveiled new designations under the ongoing “maximum pressure” campaign. The Treasury singled out Greek national Antonios Margaritis and his network of companies, citing their role in moving Iranian oil. The penalties also include several firms—Ares Shipping Limited, Comford Management, and Hong Kong Hangshun Shipping Limited—as well as eight crude tankers operating under flags such as Panama and São Tomé‑and‑Príncipe.
Meanwhile, the State Department imposed its fourth round of sanctions on Chinese-based oil storage and terminal operators. These facilities allegedly handled millions of barrels of Iran-origin crude aboard vessels already sanctioned by the U.S., prompting Washington to describe the move as an effort to “stem the flow of revenue” that supports terrorism.
On the same day, the United Kingdom issued sanctions against Iranian oil magnate Mohammad Hossein Shamkhani, imposing an asset freeze and travel ban on him, while also targeting four related companies operating in shipping, petrochemicals, and finance for their involvement in networks that back Tehran’s destabilizing activities abroad—including in Ukraine and Israe.
These back-to-back actions underscore a concerted Western push to interrupt revenue streams flowing from Iran’s oil trade—a principal source of funding for its regional proxy networks. The U.S. effort dovetails with its broader sanctions strategy under National Security Presidential Memorandum 2, aimed at cutting off Tehran’s access to funds used in destabilizing the region.
The UK’s sanctions reflect parallel concerns, focusing on individuals and corporate structures enabling Iran to finance overseas influence through illicit oil commerce.