U.S. IMPOSES NEW SANCTIONS ON IRAN’S OIL EXPORTS, TARGETS CHINESE REFINERY
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The United States on Wednesday announced fresh sanctions aimed at curbing Iran’s oil exports, including penalties against a China-based independent refinery.
The move is part of former President Donald Trump’s renewed efforts to increase pressure on the Iranian government.
According to a statement from the U.S. Treasury Department, the sanctions are intended to intensify pressure on Chinese buyers of Iranian oil, as Trump revives his maximum pressure strategy aimed at cutting Iran’s oil exports to zero.
This comes amid the Trump administration’s renewed nuclear negotiations with Iran, which resumed this month with talks in Oman and a second round expected in Rome this weekend.
The Treasury said the sanctioned Chinese refinery was involved in purchasing over $1 billion worth of Iranian crude. Additional sanctions were also placed on several firms and vessels accused of helping facilitate Iranian oil shipments to China via a so-called “shadow fleet.”
As of reporting time, neither Iran’s UN mission in New York nor China’s embassy in Washington had responded.
Reports indicate that China and Iran have developed a trade system using Chinese yuan and intermediaries to bypass the U.S. dollar and avoid American regulatory oversight.
“Any refinery, company, or broker that chooses to purchase Iranian oil or facilitate Iran’s oil trade places itself at serious risk.
“The United States is committed to disrupting all actors providing support to Iran’s oil supply chain, which the regime uses to support its terrorist proxies and partners,” US Treasury Secretary Scott Bessent said.
Also on Wednesday, the Treasury updated guidance for shipping and maritime stakeholders on detecting and mitigating Iranian oil sanctions evasion, warning among other things, that Iran depends on a vast shadow fleet to disguise oil shipments.
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