The U.S. Treasury Department has announced sanctions against a Chinese independent refinery suspected of purchasing billions of dollars' worth of Iranian oil.
According to Central News Agency, the U.S. Treasury Department announced on the 24th local time sanctions against Hengli Petrochemical (Dalian), a Chinese refinery that has purchased billions of dollars' worth of Iranian oil. About 40 maritime and shipping-related entities were also sanctioned, as these entities are considered part of Iran's shadow fleet.
The announcement published by the U.S. Treasury Department stated that Hengli Petrochemical (Dalian) is one of the largest customers of Iranian crude oil and petroleum products. Since 2023, it has purchased billions of dollars of Iranian crude oil from multiple shadow ships under sanctions, and bought oil from agencies responsible for crude sales under the supervision of the Iranian military.
● Freezing Cryptocurrency Assets
As part of the sanctions measures, the U.S. Treasury Department will freeze $340 million worth of cryptocurrency assets linked to Hengli Petrochemical and Iran.
The U.S. Treasury Department's announcement also imposes sanctions on 19 ships transporting Iranian oil and other energy products, six of which are connected to Hong Kong, including those flying the Hong Kong flag or operated by Hong Kong companies.