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The United States took additional action against Iran’s oil trade on Friday, a move to further disrupt Tehran’s primary income avenues.
The decision affects a major Chinese refinery, Hengli Petrochemical, and nearly 40 other targets, including vessels and their owners or managers.
The refinery is part of the Hengli Group, a company active in oil refining, petrochemicals, polyesters, and textiles. It operates the world’s largest terephthalic acid factory.
Washington says the latest action by the Department of the Treasury cuts revenue streams that fund Iran’s “destabilizing activities across the Middle East.”
The U.S. expressed resolve to ensure Tehran cannot use “illicit oil revenues to advance its malign agenda” while Iranians suffer “economic mismanagement and repression.”
This week, the U.S. sanctioned 12 people and entities that operate procurement networks supporting Iran’s UAV and ballistic missile programs, as well as Mahan Air.
The American government also identified two aircraft as blocked property of Mahan Air, which previously transported IRGC operatives, weapons, equipment, and funds.
The State Department said the action conforms with the UN sanctions and restrictive measures on Iran, reimposed due to “significant non-performance” of its nuclear commitments.
Treasury Secretary Scott Bessent has projected Kharg Island storage will be full “in a matter of days” and expects Iranian oil wells to be shut in.
The official warned that any person or vessel facilitating flows through covert trade and finance risks exposure to punitive actions by the United States.
