The US has imposed new sanctions targeting Iran’s oil sector, including a Chinese independent refinery and dozens of shipping companies and vessels accused of supporting Tehran’s oil exports through its “shadow fleet,” according to the US Treasury Department.
The Office of Foreign Assets Control (OFAC) said on Friday that it has blacklisted the Hengli Petrochemical refinery in Dalian, China, alleging its involvement in facilitating Iranian crude oil trade. Officials said independent Chinese “teapot” refineries remain key buyers of Iranian oil, with Hengli described as one of the country’s major purchasers of Iranian crude worth billions of dollars.
Alongside the refinery action, Washington sanctioned around 40 shipping-related entities and vessels, accusing them of helping move Iranian oil and petrochemical products and sustaining the country’s export revenues despite sanctions pressure.
US officials say this network is central to Iran’s efforts to bypass restrictions and maintain access to global energy markets.
US media reported that the administration has frozen hundreds of millions of dollars in cryptocurrency assets allegedly linked to Iran, as part of a wider effort to tighten financial pressure on Tehran and block alternative funding routes.
US Treasury Secretary Scott Bessent said the department will continue to track and disrupt Iranian financial flows and target channels used to move funds abroad.
The White House has reiterated that economic measures and maritime restrictions remain in place despite the ceasefire framework. At the same time, US defence officials have described the strategy as part of a broader campaign to intensify financial pressure on Iran.
The latest actions mark another step in Washington’s ongoing effort to restrict Iran’s oil exports, shipping operations, and access to international financial systems.
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