WASHINGTON (CHATNEWSTV) — The United States on Thursday imposed sanctions on multiple Chinese companies and vessels for purchasing and transporting Iranian oil, expanding efforts to cut off Tehran’s revenue sources.
The State Department sanctioned Huaying Huizhou Daya Bay Petrochemical Terminal Storage, a Chinese oil terminal, for storing Iranian crude oil from a sanctioned vessel. Meanwhile, the Treasury Department blacklisted Shandong Shouguang Luqing Petrochemical Co., Ltd., a “teapot” refinery, for refining hundreds of millions of dollars’ worth of Iranian crude—including oil linked to Iran-backed Houthis and the U.S.-designated Iranian Ministry of Defense.
The Treasury Department also sanctioned 12 entities, one individual, and eight vessels linked to Iran’s so-called “shadow fleet” of tankers, which move Iranian oil to China.
“These sanctions are part of our maximum pressure campaign to drive Iran’s oil exports to zero,” State Department spokesperson Tammy Bruce said in a statement. “Iran uses this revenue to fund terrorism and destabilizing activities worldwide.”
The move marks the first time the U.S. has sanctioned a Chinese ‘teapot’ refinery, private firms that are key buyers of Iranian oil.
Under the sanctions, all assets of the designated firms and individuals in the U.S. are frozen, and American entities are barred from conducting business with them. The U.S. also warned that foreign firms dealing with Iranian oil risk secondary sanctions.
The Biden administration has ramped up pressure on Iran as it continues its nuclear program and support for regional proxy groups. China, the largest buyer of Iranian crude, plays a crucial role in keeping Iran’s oil exports flowing despite U.S. sanctions.
