US Imposes Sanctions On Chinese Firms That Bought Iranian Oil

The U.S. Treasury Department revealed the details.

The US Treasury Department has imposed sanctions against several Chinese companies and other entities that the agency believes are involved in buying millions of dollars worth of Iranian oil. This was reported by The Washington Times.

The restrictions were imposed against China's Hebei Xinhai Chemical Group Co, described as a "refinery for teapots," as well as three operators of port terminals in Shandong province.

In addition, ships and their captains believed to be part of Iran's "shadow fleet" used to secretly sell oil to circumvent international sanctions have also been sanctioned.

"As part of President Trump's broad and aggressive maximum pressure campaign, Treasury today targeted another refinery that imported Iranian oil," Treasury Secretary Scott Bessent said in a statement.

The WT recalled that this is the third measure against a Chinese refinery in Shandong province and the first against port operators. In total, seven Chinese companies and six oil vessels have been hit by the sanctions.

It is known that the Chinese companies have come under restrictions for supporting state-owned National Iranian Oil Co. which funds Iran's Qods Force of the Islamic Revolutionary Guard Corps, which was recognized in 2020 as a terrorist-supporting organization.

"The United States remains determined to increase pressure on all elements of Iran's oil supply chain to prevent the regime from generating revenue to continue its destabilizing agenda," the WT added

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