U.S. Expands Iran Sanctions, Targets Chinese Oil Refineries and Shipping Network
The latest measures under the Trump administration's 'maximum pressure' campaign aim to cut Iran's oil revenue by sanctioning Chinese entities, vessels, and refineries linked to illicit oil trade.
- The U.S. sanctioned China's Huaying Huizhou Daya Bay Petrochemical Terminal for storing Iranian crude oil transported via a sanctioned vessel.
- Shandong Shouguang Luqing Petrochemical, a private 'teapot' refinery in China, was sanctioned for purchasing $500 million worth of Iranian oil, marking the first U.S. sanctions against a Chinese refinery.
- Twelve entities and eight vessels linked to Iran's 'shadow fleet,' which uses deceptive shipping practices to transport oil, were also sanctioned.
- The sanctions aim to disrupt Iran's oil revenue, which is used to fund terrorism, nuclear activities, and other destabilizing actions, while escalating U.S.-China tensions.
- Oil prices have risen as markets respond to tightened supply and geopolitical risks stemming from the expanded sanctions.
Newsweek 
United States Department of State 
Hindustan Times 
UPI 