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U.S. Expands Sanctions Targeting Iranian Oil Trade with China

New measures target Chinese entities and vessels, intensifying efforts to cut off Iran's oil revenue used for destabilizing activities.

A view of the South Pars Gas Condensate refinery field in Asalouyeh Seaport, north of the Persian Gulf in Asalouyeh, Iran, April 03, 2021.
Donald Trump has demanded that Tehran stop its nuclear weapons and stop backing militants.
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Overview

  • The United States imposed sanctions on Huaying Petrochemical and Shandong Shouguang Luqing Petrochemical for their roles in purchasing and processing Iranian oil.
  • The sanctions also block 12 additional entities, one individual, and eight vessels involved in transporting Iranian oil to China.
  • Iranian oil is transported through a 'shadow fleet' of tankers, including vessels linked to the Houthis and the Iranian Ministry of Defense of Armed Forces Logistics.
  • China remains the largest importer of Iranian oil, with private 'teapot' refineries playing a key role in sustaining Iran's oil revenue.
  • These actions are part of the U.S.'s 'maximum pressure' campaign to reduce Iran's oil exports to zero and disrupt funding for its destabilizing activities.