US sanctions China’s ‘teapot’ refinery for buying Iranian oil
Al Jazeera·3h ago·Neutral
What Happened
The US Treasury Department sanctioned Hengli Petrochemical, China's second-largest independent refinery, for purchasing hundreds of millions in Iranian oil. The action targeted approximately 40 shipping firms allegedly operating as Iran's shadow fleet. China imported over 80 percent of Iran's shipped oil last year, generating substantial military revenue for Tehran amid US naval blockade efforts.
Key Entities
US Treasury DepartmentHengli Petrochemical (Dalian) RefineryChinaIranDonald TrumpShandong provinceKpler