The United States has imposed sanctions over 50 individuals, entities, and vessels, including a Chinese independent refinery and a Chinese oil terminal, for their involvement in facilitating Iran’s oil and liquefied petroleum gas (LPG) trade, according to the U.S. administration.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Shandong Jincheng Petrochemical, identifying it as an independent “teapot” refinery located in Shandong Province (eastern China), which has allegedly purchased millions of barrels of Iranian oil since 2023. The US OFAC has also sanctioned Rizhao Shihua Crude Oil Terminal, a China-based firm that operates a terminal at Lanshan Port. According to the department, the terminal has received over a dozen vessels from Iran’s "shadow fleet", which are used to evade existing sanctions.
The administration noted that this marks the fourth round of sanctions specifically targeting China-based refineries that continue to import Iranian oil in defiance of US sanctions.
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