US continues 'maximum pressure' campaign against Iran, sanctions Chinese firm for buying Tehran's oil

The refinery Treasury Department targeted for sanctions is China-based Shandong Shouguang Luqing Petrochemical Co., Ltd.

Updated on: Mar 21, 2025, 03:16:11 IST

By HT News Desk

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Donald Trump-led United States on Thursday imposed new Iran-linked sanctions on one individual and several entities, including a Chinese "teapot" oil refinery for purchasing and processing Iranian crude oil. This was the fourth round of sanctions on Iran's oil sales since Trump said last month he would exert maximum pressure to grind Iranian exports to a halt.

Donald Trump has demanded that Tehran stop its nuclear weapons and stop backing militants. (File)

Donald Trump has demanded that Tehran stop its nuclear weapons and stop backing militants. China is also on Trump's radar as the US president imposed several tariffs against the country. China, one of the biggest rivals of the US, is the largest importer of Iranian oil.

The refinery Treasury Department targeted for sanctions is China-based Shandong Shouguang Luqing Petrochemical Co., Ltd, reported Reuters.

The US said in a statement the China-based oil refinery purchased Iranian oil worth around $500 million from Houthi-linked ships.

Teapot refineries are small, privately-owned operations in China, and stand in contrast to the larger state-owned enterprises in the country.

The US claimed the oil in question was transported by Iran's so-called "shadow fleet" of tankers, including from ships linked to the Houthis.

"Teapot refinery purchases of Iranian oil provide the primary economic lifeline for the Iranian regime, the world's leading state sponsor of terror," Treasury Secretary Scott Bessent told AFP.

The US State Department unveiled its sanctions against a Chinese oil terminal on Thursday.

"These sanctions are being imposed pursuant to President Trump's maximum pressure campaign to drive Iran's oil exports, including to China, to zero," State Department spokesperson Tammy Bruce said in a statement.

Iran says its nuclear ambitions are limited to peaceful motives. Western powers, on the other hand, claim Tehran's enrichment of uranium to levels approaching weapons-grade has no civilian uses.

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HT News Desk
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