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

The sanctions also targeted Greek national Antonios Margaritis and his network of entities, according to the Treasury Department.

A gas flare on an oil production platform alongside an Iranian flag in the Persian Gulf, on July 25, 2005. Raheb Homavandi/Reuters

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.