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US imposes sanctions on a China-based oil refinery and 40 shippers over Iranian oil
The refinery can process about 400,000 barrels a day, while the Treasury said the network has funneled hundreds of millions of dollars to Iran's military.
- On Friday, President Donald Trump's administration sanctioned a major China-based oil refinery, Hengli Petrochemical, and roughly 40 shipping companies involved in transporting Iranian oil.
- The Treasury Department alleges Hengli has processed Iranian crude since 2023, generating hundreds of millions of dollars for the Iranian military.
- Located in Dalian, the sanctioned Hengli facility processes roughly 400,000 barrels of crude oil daily, while China remains the largest buyer of Iranian oil, importing 80% to 90% of output.
- These sanctions cut targeted entities from the U.S. financial system weeks before Trump and Jinping are scheduled to meet in China.
- Concurrently, the U.S. imposed a physical blockade on the Strait of Hormuz this month, while Treasury Secretary Scott Bessent's department earlier threatened secondary sanctions on financial institutions in Hong Kong, the UAE, and Oman.
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US imposes sanctions on Chinese teapot refinery for buying Iranian oil
The Trump administration said on Friday it imposed sanctions on an independent "teapot" refinery in China for buying billions of dollars' worth of Iranian oil as Washington and Tehran struggle to restart peace talks.
·United Kingdom
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Associated Press News+12 Reposted by 12 other sources
US imposes sanctions on a China-based oil refinery and 40 shippers over Iranian oil
President Donald Trump’s administration is placing economic sanctions on a major China-based oil refinery and roughly 40 shipping companies and tankers involved in transporting Iranian oil.
·United States
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Coverage Details
Total News Sources20
Leaning Left7Leaning Right3Center7Last UpdatedBias Distribution41% Left, 41% Center
Bias Distribution
- 41% of the sources lean Left, 41% of the sources are Center
41% Center
L 41%
C 41%
R 18%
Factuality
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