The Office of Foreign Assets Control (OFAC) of the US Treasury Department has announced sanctions against the Chinese refinery Hengli Petrochemical (Dalian), which Washington says is one of the largest buyers of Iranian oil.
According to the department, independent Chinese refineries, known as "teapots", buy the majority of Iranian crude oil and thus represent a critical source of income for Tehran.
In addition, sanctions have also been imposed on approximately 40 shipping companies and vessels that are part of the so-called "shadow fleet" of Iran, used to transport oil and petrochemicals. US authorities believe that these shipments provide financial support to Tehran.
The U.S. Treasury Department said the measures are being implemented as part of Operation Economic Fury and are aimed at reducing Iran’s revenues used for activities in the Middle East.
“Economic Fury is exerting a financial stranglehold on the Iranian regime, deterring its aggression in the Middle East and helping to limit its nuclear ambitions. At President Trump’s direction, the Treasury Department will continue to tighten the web of vessels, brokers, and buyers that Iran relies on to transport its oil to global markets. Any person or vessel facilitating these flows – through secret trade and financial transactions – risks U.S. sanctions,” Treasury Secretary Scott Besant said.