U.S. Imposes Sanctions on Chinese Oil Refinery Linked to Iran

The U.S. has sanctioned a Chinese refinery for buying Iranian oil, part of President Trump’s campaign against Iran. In retaliation, China criticized the sanctions, maintaining its support for its economic partnerships. The U.S. aims to cut Iran’s oil exports significantly, citing links to terrorism.

The United States has imposed sanctions on a “teapot refinery” located in Shandong province, China, which has reportedly purchased approximately half a billion dollars’ worth of Iranian oil. Teapot refineries are smaller, privately-owned operations that differ from larger, state-owned enterprises in China.

In response, China criticized the U.S. for interfering with its trade relations with Iran. President Donald Trump has intensified a “maximum pressure” campaign against Iran, reinstating sanctions on various individuals and entities, including the oil minister.

According to the U.S. Treasury Department, the oil in question was transported by Iran’s “shadow fleet” of tankers, which includes ships associated with both the Houthi and the Iranian Ministry of Defense. The Treasury also sanctioned an additional 19 ships and companies involved in the refinery supply chain.

Treasury Secretary Scott Bessent stated that the Iranian regime, considered the world’s leading state sponsor of terrorism, relies heavily on oil purchases from teapot refineries as a crucial economic lifeline. The U.S. State Department imposed further sanctions on a Chinese oil terminal, aiming to reduce Iran’s oil exports to zero as part of President Trump’s initiative.

State Department spokesperson Tammy Bruce emphasized that Tehran utilizes revenues from oil sales to finance attacks against U.S. allies and to support global terrorism. Consequently, the Chinese foreign ministry has denounced such unilateral sanctions, affirming China’s commitment to protect the rights and interests of its enterprises.

The article highlights the U.S. sanctions imposed on a Chinese oil refinery linked to Iranian oil purchases, illustrating the ongoing geopolitical tensions surrounding Iran’s oil exports. China’s strong rebuttal underscores its opposition to U.S. sanctions and commitment to defending its economic interests. The broader implications suggest a continued clash of policies as the U.S. intensifies its efforts to curb Iran’s revenue sources, while China seeks to maintain its trade relations.

Original Source: m.economictimes.com