The U.S. Treasury’s Office of Foreign Assets Control (OFAC) on Friday sanctioned a major Chinese oil refinery and dozens of ships tied to Iran’s “shadow fleet,” escalating efforts to choke off Tehran’s main source of revenue.
Officials said in a press release the move targets Hengli Petrochemical, one of Iran’s largest oil buyers, along with a network of shipping companies and tankers responsible for transporting billions of dollars worth of petroleum products to foreign markets.
The Treasury Department identified these “shadow fleet” vessels as the financial lifeline for Iran’s “unstable regime.”
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The crackdown is part of Economic Fury, a broader campaign to squeeze Iran’s economy by limiting its ability to sell oil abroad, revenue the U.S. says funds the regime’s military and destabilizing activities across the Middle East.
“Economic Fury is imposing a financial stranglehold on the Iranian regime, hampering its aggression in the Middle East and helping to curtail its nuclear ambitions,” Treasury Secretary Scott Bessent said.
Hengli Petrochemical (Dalian) Refinery Co. is a China-based “teapot” refinery, a term used for independent facilities known for purchasing discounted crude, including from sanctioned countries.
The refinery, one of China’s largest independent facilities, has received Iranian oil cargoes from sanctioned shadow fleet vessels since at least 2023. Hengli has also purchased oil tied to Iran’s armed forces, generating hundreds of millions of dollars for the Iranian military.
Hengli has also received shipments tied to Sepehr Energy Jahan Nama Pars Company, a firm identified by U.S. officials as a front for Iran’s armed forces that helps facilitate oil sales abroad.
The company operates on behalf of Iran’s Armed Forces General Staff, using a network of intermediaries and vessels to move sanctioned crude, with proceeds helping fund the country’s military programs and regional proxy groups.
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The new sanctions also target the network that makes these oil sales possible, a “shadow fleet” of aging tankers and shell companies that move petroleum across global markets while evading sanctions and obscuring the origin of shipments.
These ships avoid detection by transferring cargo from one tanker to another in the open ocean. Treasury officials said 19 vessels were targeted in the action.
The move is part of the Trump administration’s renewed “maximum pressure” campaign against Iran, aimed at cutting off the regime’s primary source of revenue through oil exports and sanctions enforcement.
U.S. officials say oil exports remain the backbone of Iran’s economy, and efforts to restrict those flows are designed to limit the government’s ability to fund its military, support proxy groups and advance its nuclear program.
Treasury officials warned that additional sanctions are likely as the U.S. continues targeting the networks, intermediaries and buyers that enable Iran to move oil on the global market.
US targets Chinese refinery in sweeping Iran oil crackdown, sanctions ‘shadow fleet’ tankers 2026 IUSTITIA.BG – Investigations 2009-2026 2026-04-24 20:09:16 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law
