On Thursday, the United States announced sanctions for approximately 100 individuals, entities and vessels, including Chinese companies accused of facilitating Iranian oil and petrochemical exports, the Ministry of Finance said.
Among the targeted was Shandong Jincheng Petrochemical Group Co, described as an independent refinery “Teapot” in Shandong Province, which has purchased millions of barrels of Iranian oil since 2023, and Rizhao Shihua raw oil terminal, which operates the Lanshan port. Tankers such as Congm, Big Mag and Voy transported several millions of barrels of Iranian oil to Rizhao.
Finance Minister Scott Bessnt said that the sanction is to “degrade the Iranian cash flow by removing the key elements of the Iranian export machine”. This step focuses on networks that the US claims to help Tehranian financing their nuclear and missile programs and support militant proxy in the Middle East. Iran claims that its nuclear program is for peaceful purposes.
The Foreign Ministry also determined Jiangyin Foreversun Chemical Logistics, the first Chinese terminal to accept petrochemical products of Iranian origin.
This means the fourth round of American sanctions focused on Chinese refineries buyer Iranian oil. The actions come in the middle of the Gaza Gaza and the Hostage Agreements between Israel and Hamas, emphasizing the current US effort to solve security and energy problems in the Middle East.
(Tagstotranslate) USA sanctions
