US sanctions Chinese refinery, tankers over Iran oil

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a new round of sanctions on Friday targeting the Iranian oil trade and its shadow fleet. The sanctions specifically target the China-based independent teapot refinery Hengli Petrochemical (Dalian) Refinery. This action is part of the Trump administration's ongoing 'Economic Fury' campaign to financially pressure Tehran by disrupting its oil exports. The move continues the pattern of targeting entities that facilitate the shipment and refining of Iranian crude.