US Sanctions China Terminals, Hong Kong-Based Companies, Other Foreign Entities Over Iran Oil

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Aug 23, 2025 - 09:57 Updated: Aug 23, 2025 - 00:25
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US Sanctions China Terminals, Hong Kong-Based Companies, Other Foreign Entities Over Iran Oil
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The U.S. government unveiled new sanctions on Aug. 21 targeting China-based oil terminal operators and several foreign entities, including those from Hong Kong, over their alleged involvement in the shipment of Iranian oil.

The State Department said it sanctioned two China-based operators of crude oil and petroleum terminals and storage facilities, alleging they facilitated the import of Iranian oil carried by U.S.-sanctioned tankers.

One of the sanctioned operators was identified as Qingdao Port Haiye Dongjiakou Oil Products Co., based in Shandong Province, which the department described as “the largest entry point for Iranian oil into China by volume,” according to its statement.

The second operator is Yangshan Shengang International Petroleum Storage and Transportation Co., located in the Yangshan Port area of Zhejiang Province, the department said.

Separately, the Treasury Department imposed sanctions on Hong Kong-based companies—namely U Beacon Shipping Co. Ltd., and Hong Kong Hangshun Shipping Ltd.—and their Panama-flagged vessels, Adeline G and Kongm. The vessels allegedly transported millions of barrels of Iranian oil to China, the department said.

The department also sanctioned Hong Kong-based Ares Shipping Ltd. and its vessel, Ares, which allegedly transported nearly 10 million barrels of Iranian oil since late last year.

Other foreign entities sanctioned include Ozarka Shipping in the United Arab Emirates, Changbai Glory Shipping Ltd. in the Marshall Islands, and Regal Liberty Ltd. in the British Virgin Islands.

The sanctions also targeted Greek national Antonios Margaritis and his network of entities—Marant Shipping, Trading S.A., Square Tanker Management Ltd., Comford Management S.A., and United Chartering S.A.—along with their vessels involved in facilitating the transport and sale of Iranian petroleum, according to the statement.

The sanctions will freeze all assets of the designated companies and the individuals within U.S. jurisdiction, and prohibit U.S. persons from conducting any transactions with them unless permitted by the Office of Foreign Assets Control.

“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,” Treasury Secretary Scott Bessent said in the statement.

Qingdao Port Haiye Dongjiakou Oil Products and Ozarka Shipping did not return requests for comment by publication time. The Epoch Times was unable to reach the other companies.

The department said the action was taken pursuant to President Donald Trump’s Feb. 4 memorandum aimed at imposing a “maximum pressure” campaign on Iran.

In his memo, Trump warned that Iran’s nuclear program “poses an existential danger to the United States and the entire civilized world” and urged sanctions against those who violated Iran-related measures.

In June, U.S. forces launched airstrikes on three Iranian nuclear sites amid the exchange of missiles between Israel and Iran at the time. Iran has denied allegations of pursuing nuclear weapons.
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