US Sanctions Chinese Refinery and Tankers Over Alleged Iranian Oil Shipments

Eight tankers have been sanctioned for alleged Iranian oil shipments. File Image / Pixabay

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions against Shandong Shouguang Luqing Petrochemical and its CEO for purchasing and refining Iranian crude worth hundreds of millions of dollars, including shipments from vessels linked to the Houthi network.

In addition, OFAC sanctioned 19 entities and tankers involved in the transport of Iranian crude oil, some of which were part of Iran's shadow fleet, according to a statement published on Thursday.

"Luqing Petrochemical received Iranian oil transported by shadow fleet vessels, some of which have already been sanctioned for their role in moving Iranian petroleum linked to the Houthis and Iran's Ministry of Defense and Armed Forces Logistics (MODAFL)," the statement said.

Eight tankers from Iran's shadow fleet were sanctioned, including the Comoros-flagged Natalina 7, Panama-flagged Catalina 7, Aurora Riley and Viola, as well as the San Marino-flagged Montrose, Barbados-flagged Volans and Brava Lake, and the unflagged Titan.

Several companies linked to these vessels have also been blacklisted, including Hong Kong-based Astrid Menks Limited and Canes Venatici Limited.

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

"The United States is committed to cutting off the revenue streams that enable Tehran's continued financing of terrorism and development of its nuclear program."