Treasury Sanctions Iran-Linked Chinese Oil Refinery, 40 Vessels
The Chinese refinery has generated hundreds of millions of dollars in revenue for the Iranian military, officials said.
TL;DR
- The Treasury Department sanctioned a Chinese refinery and 40 shipping firms and vessels.
- These entities were found to be supporting Iran's oil economy.
- The move is part of the Trump administration's efforts to cut off Iran's revenue.
- The sanctioned Chinese company is Hengli Petrochemical (Dalian) Refinery Co.
- Hengli has purchased billions of dollars worth of Iranian petroleum.
- U.S. authorities state Iran's revenue enables its regional activities and threats to American interests.