The United States Department of the Treasury has imposed a new round of sanctions against Iran, targeting several entities including Chinese teapot refineries and vessels supplying Iranian crude oil.
The sanctions were imposed on Thursday, with China’s Shandong Shouguang Luqing Petrochemical Co., Ltd. being one of the entities targeted. The US State Department spokesperson stated that the refinery purchased oil from vessels linked to Yemen’s Houthi movement, designated as a Foreign Terrorist Organization.
China, being the largest importer of Iranian oil, has faced consequences as well. Wang Xueqing, allegedly linked to the refinery, was placed on the Specially Designated Nationals (SDN) List. Americans are prohibited from conducting business with individuals on this list, and their US assets are blocked.
These fresh sanctions are part of the US’s maximum pressure campaign to reduce Iran’s oil exports to zero. This strategy aims to ultimately undermine Iran’s efforts to exercise its right to peaceful use of nuclear energy, amidst ongoing tensions and negotiations with the Trump administration.