THE UNITED STATES HAS IMPOSED SANCTIONS ON CHINESE COMPANIES FOR PURCHASING IRANIAN OIL.

The United States has announced new sanctions against approximately 100 individuals, companies, and vessels involved in the trade of Iranian oil and petrochemicals, including an independent refinery in China and a marine terminal, Reuters reports.

The U.S. Treasury Department has opened an investigation into Shandong Jincheng Petrochemical Group Co., a privately owned refinery in China's Shandong province, accused of purchasing millions of barrels of Iranian oil since 2023. The sanctions also targeted Rizhao Shihua Crude Oil Terminal Co., which operates a terminal in the port of Lanshan and reportedly received more than a dozen vessels from Iran's "ghost fleet," which evades international sanctions.

Among the tankers attacked were the Kongm, Big Mag, and Voy, which Washington claims were transporting several million barrels of Iranian crude oil to a Chinese terminal. The U.S. Treasury Department has stated that these networks support the Tehran regime by financing its nuclear and missile programs, as well as militants in the Middle East. Iran, however, maintains that its nuclear program is purely peaceful. This is the fourth round of U.S. sanctions against Chinese refiners involved in purchasing Iranian oil.

"The Treasury Department is cutting off Iran's cash flow by dismantling key parts of its energy export system," said U.S. Treasury Secretary Scott Bessent.

At the same time, the State Department imposed sanctions for the first time on another Chinese company, Jiangyin Foreversun Chemical Logistics, for receiving Iranian-origin petrochemical products.