US Strikes Hard: Sanctions Target Chinese Refinery Over Iranian Oil

The US has enforced sanctions on China's Shandong Shengxing Chemical Co. for buying over $1 billion in Iranian crude oil. This move aims to curtail Iran's illegal oil exports to China. Sanctions extend to other firms and vessels aiding this trade, aligning with prior US policies.

The United States imposed strict sanctions on Wednesday against Shandong Shengxing Chemical Co., Ltd, a Chinese refinery accused of purchasing over one billion dollars' worth of Iranian crude oil. This decisive action is part of Washington's broader initiative to curb Iran's unauthorized oil exports, focusing particularly on transactions involving China.

The US State Department announced the sanctions, stating the President's determination to eliminate Iran's illicit oil trade to zero, a commitment echoed in the sanctions targeting multiple companies and vessels implicated in transporting Iranian oil to China, effectively forming what they describe as Iran's 'shadow' fleet.

This measure marks the second instance of the US acting against an independent Chinese teapot refinery following a directive issued during President Donald Trump's administration. The US government continues to implement a comprehensive maximum-pressure campaign, reaffirming its stance against Iran's revenue-generating efforts designed to support destabilizing activities.

Furthermore, the US recently restricted Nvidia's export of advanced AI chips to China, demonstrating tightening control over key technology trades amidst a broader strategic effort to pressure Beijing during ongoing tariff disputes.

(With inputs from agencies.)