: Saturday, April 25, 2026 11:19 AM
Washington. The US has imposed sanctions on a refinery located in China and several ships related to Iran’s oil business. Its purpose is to increase pressure on Iran’s oil earnings. The Treasury Department said that its ‘Office of Foreign Assets Control’ (Office of Foreign Assets Control) has targeted ‘Hengli Petrochemical (Dalian) Refinery Company Limited’. According to the department, this company is one of the largest companies purchasing crude oil and petroleum products from Iran. Treasury Secretary Scott Besant said, “Economic strictures are tightening the financial screws on the Iranian regime, deterring its aggression in the Middle East, and helping to curb its nuclear ambitions.”
About 40 shipping companies and ships, which are considered part of Iran’s so-called “shadow fleet”, have also been targeted in this action. The US says that these ships transport oil and petrochemical products around the world, which brings money to the Iranian government.
Scott Besant also said that on the instructions of Donald Trump, America will continue to take action against the ships, middlemen and buyers who help in transporting Iranian oil to the world markets. He warned that any person or ship involved in this work may face US sanctions.
China’s independent refineries, known as “teapots,” buy the majority of Iran’s crude, Treasury officials said. Among these, Hengli is the second largest company, which has purchased oil worth billions of dollars from Iran.
The statement said Hengli received contraband vessels and shipments belonging to the General Staff of Iran’s armed forces through Sepehr Energy Jahan Naama Pars Company, generating “hundreds of millions of dollars in revenue for the Iranian military.”
Apart from this, America has also imposed sanctions on 19 more ships. It is alleged that these ships used to transport Iran’s crude oil, LPG and other petrochemical products to different countries of the world. These ships were operating under the flags of countries like Panama, Hong Kong and Barbados.
Some ships transported Iranian oil to China, while others delivered cargo to the United Arab Emirates and Bangladesh. According to the US Finance Department, these ships often transferred oil from one ship to another in the sea, so that the real source of the oil could be hidden.
The action was taken under ‘Executive Order 13902’, which targets Iran’s petroleum and petrochemical sectors. It is part of a larger campaign to put economic pressure on Tehran’s oil exports and financial networks. The Treasury Department said that since February 2025, as part of this campaign, it has imposed sanctions on more than 1,000 individuals, entities, vessels and aircraft associated with Iran.
Under US law, those who are sanctioned, their assets in the US are frozen. US citizens are generally prohibited from transacting with them. Apart from this, foreign companies which help in such business may also face punishment.
The Finance Department has warned that breaking the rules may lead to civil or criminal action. Additionally, banks and other institutions involved in such transactions may also come under sanctions.
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Web Title-US Takes Action on Iranian Oil Trade; Sanctions Imposed on Chinese Refinery
