Sanctions Escalation Hits Chinese Refiners Tied to Iranian Crude Trade

US Sanctions on China Oil Giant Turn Up Heat for Teapot Refiners

(Bloomberg) — A US move to sanction one of China’s largest private refiners over ties to Iran will hurt a vast and already embattled petrochemicals sector — but the collateral damage will extend far beyond oil.

Sanctions Escalation Hits Chinese Refiners Tied to Iranian Crude Trade

Chinese Hengli Petrochemical saw its shares drop sharply by 10% today following the United States’ imposition of sanctions on the company, alleging it bought crude oil from Iran despite U.S. sanctions on the industry. Hengli Petrochemical is one of China’s largest independent refiners. The company denied the allegations, saying it “has never engaged in any trade with Iran,” and that its suppliers “guaranteed that the origins of the crude oil sup…

Hengli Petrochemical Denies Iran Links After U.S. Sanctions Refining Unit

Hengli Petrochemical Denies Iran Links After U.S. Sanctions Refining Unit - Chinese refiner says crude supplies are compliant and operations remain stable after its core subsidiary was placed on a U.S. blacklist

US sanctions on China oil giant Hengli turn up heat for teapot refiners

Hundreds of chemical, synthetic fibre and textile producers across East Asia face near-immediate disruption to supplies

China's Hengli Petrochemical denies trade with Iran in response to US sanctions

BEIJING — Hengli Petrochemical, one of China's largest independent refiners, denied trade dealings with Iran after the United States imposed sanctions on one of its subsidiaries for allegedly buying Iranian oil.Hengli "has never engaged in any trade with Iran", and all its crude oil suppliers "guaranteed that the origins of the crude oil supplied do not fall within the scope of US sanctions", the company said in a stock exchange filing on Sunday…