The U.S. Treasury Department has now reportedly designated a Chinese refining company and its CEO as part of its increased efforts to impose sanctions against Iranian crude oil on Thursday.
According to the department, the Shandong Shouguang Luqing Petrochemical Co., a so-called teapot refinery in the Shandong region of China, has purchased around $500 million worth of Iranian oil, including from ships connected to the Iranian Ministry of Defense of Armed Forces Logistics and Yemen’s Houthi rebels.
In China, teapot refineries are tiny, autonomous refineries.
According to the government, 19 organizations and ships involved in the transportation of millions of barrels of Iranian oil are also subject to penalties from the Office of Foreign Assets Control.
The government also stated that the sanctions are a component of the administration’s “campaign of maximum pressure on Iran.”
The sanctions list includes firms involved in shipping and trading Iranian crude oil, as well as those facilitating financial transactions related to these operations.
By targeting these networks, the Treasury hopes to impose additional economic pressure on Iran, compelling it to return to the negotiating table.
U.S. officials have emphasized the importance of international cooperation in enforcing these sanctions, calling on countries and companies to adhere to U.S. laws and strive for a more secure world without the threat posed by Iran’s nuclear ambitions.
This ongoing campaign highlights America’s commitment to curtailing Iran’s influence and ensuring regional stability.
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