US Treasury Sanctions Hebei Xinhai Chemical Group, Three Chinese Ports, and Ships Over Iranian Oil and Terrorism Financing

The United States Treasury Department has imposed new sanctions targeting Chinese entities involved in the purchase and shipment of Iranian crude oil. The sanctions include a Chinese refinery, Hebei Xinhai Chemical Group Co., described as a "teapot refinery," and three port terminal operators located in Shandong province, including those operating in the port of Dongying. These measures also extend to certain Chinese ships and a captain connected to Iranian oil transfers. The US Treasury and State Departments emphasized that these sanctions aim to prevent the sale of Iranian oil, which they assert finances terrorism and contributes to Iran's destabilizing activities. The US government has stated its commitment to pursuing entities that evade sanctions under the current administration's policy.