The United States has imposed sanctions on the Chinese refinery Hengli Petrochemical (Dalian) Refinery and roughly 40 vessels and companies linked to Iran’s so-called shadow fleet, the Treasury Department said.
According to the Office of Foreign Assets Control, the Chinese facility is one of the largest buyers of Iranian oil. The restrictions also target shipping entities and vessels that Washington says are used to transport oil and petrochemical products, generating revenue for Tehran.
The Treasury said the measures are being taken as part of Operation Economic Fury and are aimed at reducing the revenues Iran uses for its activities in the Middle East.
“Economic Fury is financially suffocating the Iranian regime, curbing its aggression in the Middle East and helping constrain its nuclear ambitions,” U.S. Treasury Secretary Scott Bessent said.
He added: “At President Trump’s direction, the Treasury Department will continue to tighten the network of vessels, brokers, and buyers on which Iran relies to move its oil onto global markets. Any person or vessel facilitating these flows—through covert trade and financial transactions—risks being hit with U.S. sanctions.”