US sanctions Chinese refinery, dozens of vessels over Iran oil trade
The United States on Friday imposed fresh sanctions on a China-based refinery and around 40 shipping firms and vessels allegedly tied to Iran’s oil exports, as part of efforts to tighten pressure on Tehran’s revenue streams.
The Treasury Department said the measures target independent “teapot” refinery Hengli Petrochemical, one of the largest buyers of Iranian crude, along with a network of tankers moving oil to global markets.
“Economic Fury is imposing a financial stranglehold on the Iranian regime,” Treasury Secretary Scott Bessent said, adding Washington would continue to “constrict the network of vessels, intermediaries, and buyers Iran relies on.”
US officials said the targeted vessels transported billions of dollars’ worth of petroleum products, describing the shadow fleet as a “critical link” sustaining Iran’s economy.
