The US imposed sanctions on about 100 individuals, entities and vessels, including a Chinese independent refinery and terminal, that helped Iran's oil and petrochemicals trade, the administration of President Donald Trump said on Thursday.
The Treasury Department sanctioned the Shandong Jincheng Petrochemical Group, which it said is an independent teapot refinery in Shandong Province that has purchased millions of barrels of Iranian oil since 2023.
It also sanctioned China-based Rizhao Shihua Crude Oil Terminal, which operates a terminal at Lanshan port. Treasury said it had accepted more than a dozen of Iran's so-called shadow fleet vessels that evade the sanctions.
The tankers included Kongm, Big Mag, and Voy, which Treasury said carried several million barrels of Iranian oil to Rizhao.
Treasury said it was the fourth round of sanctions in which the administration targeted China-based refineries that continue to purchase Iranian oil.
"The Treasury Department is degrading Iran's cash flow by dismantling key elements of Iran's energy export machine,” Reuters quoted Treasury Secretary Scott Bessent as saying.
