U.S. Sanctions Hebei Xinhai and Shandong Operators, Targets Iran's Oil Exports Under EO 13902 and 13846

The U.S. Department of the Treasury has imposed new sanctions targeting Iran's oil exports, focusing on entities and individuals involved in the trade. The sanctions include two individuals, several entities, and maritime vessels linked to Iran, as announced on the U.S. Treasury website. In a related move, the U.S. has also sanctioned Hebei Xinhai Chemical Group Co., Ltd., a Chinese independent oil refinery, and three port terminal operators in Shandong Province for their role in purchasing or facilitating the delivery of Iranian oil worth hundreds of millions of dollars. These actions are part of a broader campaign to pressure Iran's oil supply chain, marking the third action against a 'teapot' refinery and the first targeting terminal operators in Shandong Province. The sanctions are being implemented under Executive Order 13902, which targets Iran's petroleum and petrochemical sectors, and Executive Order 13846, which targets those providing support to the National Iranian Oil Company (NIOC). The sanctions have led to operational disruptions for small Chinese refiners, with some forced to sell their products under different names due to difficulties in receiving crude oil. Larger Chinese refiners have reportedly stopped purchasing Iranian oil, and state banks have ceased providing operational capital to at least one sanctioned company. The U.S. Treasury's actions also target the 'shadow fleet' used by Iran, including vessels such as the STAR TWINKLE 6, LAMD, SKADI, BIG MAG, IMPALAS, and THANE, and their respective owners. Additionally, two vessel captains, Ketan Agarwal and Lincoln Francisco Viegas, have been sanctioned for their roles in transporting Iranian oil on vessels like the JAYA, LIONESS, BENDIGO (formerly LEONOR), and HILDA I, with significant volumes of oil involved, such as eight million barrels by the LAMD and six million barrels by the BIG MAG.