The United States issued new Iran-related sanctions on Thursday, targeting one individual, several entities and vessels linked to Iranian oil trade as part of President Trump's pressure campaign on Tehran.
“Teapot refinery purchases of Iranian oil provide the primary economic lifeline for the Iranian regime, the world’s leading state sponsor of terror,” said Secretary of the Treasury Scott Bessent in a press release announcing the new measure.
“The United States is committed to cutting off the revenue streams that enable Tehran’s continued financing of terrorism and development of its nuclear program.”
The sanctions target a Chinese refinery, Luqing Petrochemical, which the US Treasury accused of purchasing Iranian crude worth half a billion dollars.
The refinery allegedly received oil from vessels linked to the Yemen's Houthis and Iran’s Ministry of Defense and Armed Forces Logistics. Its CEO, Wang Xueqing, was also sanctioned.
Nineteen more entities and vessels were also designated that the US treasury said involved in transporting Iranian oil as part of Iran’s "shadow fleet," which US officials say engages in deceptive shipping practices.
Among them are the Natalina 7, Catalina 7, Aurora Riley, Viola, Montrose, Volans, Brava Lake, and Titan. Companies registered in Hong Kong, Panama, Liberia, Seychelles, and the British Virgin Islands were also sanctioned for allegedly owning or operating these vessels.
In a separate announcement, the State Department said it is sanctioning a crude oil and petroleum products storage terminal in the port of Huizhou, China, for receiving and storing Iranian-origin crude oil from a blocked tanker.
The terminal, owned and operated by Huaying Huizhou Daya Bay Petrochemical Terminal Storage Co., Ltd (Huaying Petrochemical), offloaded approximately one million barrels of Iranian crude in late January 2025 from the US-designated tanker formerly known as Spirit of Casper and Nichola. The State Department said Chinese terminals play a critical role in facilitating Iran’s energy exports and sustaining its revenue streams.
The new sanctions come a day after the US State Department’s Rewards for Justice program announced it is offering up to $15 million for information on four Chinese individuals accused of supplying Iran’s Islamic Revolutionary Guard Corps (IRGC) with US-controlled technology.
Last Thursday, US Treasury sanctioned Iran's Oil Minister Mohsen Paknejad, several oil tankers, and commercial entities.
Washington has been ramping up sanctions on Iran's oil exports since the latter days of the Joe Biden administration, as part of US President Donald Trump renewed "maximum pressure" campaign, aimed at cutting Iran’s oil exports to zero in a bid to force Tehran into talks over its nuclear program.
The sanctions mark the fourth round of US measures targeting Iran's oil sector since Trump took office on January 20, 2025.
