US Sanctions Hit Iran’s Oil Lifeline, Targeting Shadow Fleet and Chinese Teapot Refineries
TL;DR Summary
The U.S. Treasury’s OFAC sanctioned Hengli Petrochemical (Dalian) Refinery Co., Ltd., a major purchaser of Iranian crude, and about 40 vessels and firms linked to Iran’s shadow fleet, as part of a broader campaign to choke Tehran’s oil revenue under E.O. 13902 and NSPM-2. The action aims to disrupt Iran’s petroleum trade channels, block designated entities’ assets, and restrict U.S. transactions with them, continuing a crackdown that has targeted Iran-related entities since early 2025.
- Economic Fury Targets Global Network Fueling Iran’s Oil Trade and Shadow Fleet U.S. Department of the Treasury (.gov)
- U.S. targets China’s shadow trade with Iran in sweeping sanctions The Washington Post
- US imposes sanctions on a China-based oil refinery and 40 shippers over Iranian oil AP News
- US imposes sanctions on Chinese teapot refinery for buying Iranian oil Reuters
- US imposes sanctions targeting Iran’s oil network in China The Hill
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