The USA has imposed sanctions on a Chinese language refinery and several other delivery corporations and vessels for allegedly orchestrating Iranian oil exports on Monday, the most recent transfer to crackdown Iran’s energy-dominated financial system underneath US President Donald Trump’s “most stress” drive.
US Treasury Division’s Workplace of International Property Management (OFAC) designated Shandong Shenxing Chemical Co Ltd, an impartial “teapot” refinery, for buying over US$1 billion value of Iranian crude, in keeping with an OFAC assertion. It was the second such transfer in opposition to a Chinese language refinery in weeks.
Shandong Shenxing has acquired dozens of shipments of Iranian crude oil value “greater than a billion {dollars} from shadow fleet vessels”, together with two – Nyantara and Reston – owned by Panamanian corporations, which had been additionally sanctioned on Wednesday, in keeping with the announcement.
These vessels and others, it mentioned, use ship-to-ship transfers “to obfuscate Iran’s petroleum deliveries to China”.
China Oil and Petroleum Firm Restricted, which OFAC mentioned is managed by Iran’s Islamic Revolutionary Guard Corps-Qods Pressure, allegedly acquired over US$800 million from the refiner from 2020 to 2023.
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Iran’s new missile can reportedly attain Israel and US army bases in Center East
Iran’s new missile can reportedly attain Israel and US army bases in Center East
The Iranian army unit has been labelled a terrorist organisation by the US State Division. Washington has beforehand seized US$108 million linked to COPC, the assertion mentioned.