US sanctions Chinese refinery, 40 ships over Iran oil

The US Treasury's Office of Foreign Assets Control (OFAC) has imposed new sanctions targeting China's Hengli Petrochemical, a major 400,000 barrels-per-day refinery, and nearly 40 vessels operating in Iran's 'shadow fleet' for facilitating Iranian oil exports. The action is part of the Trump administration's ongoing economic pressure campaign to disrupt Iran's energy sector and its trade ties with China. In response, Iranian-aligned sources have framed the sanctions as 'economic terrorism' and asserted that Iran's oil exports continue despite the pressure. The move further escalates tensions in the global energy market and highlights the complex web of international commerce surrounding sanctioned Iranian oil.