The U.S. government has announced further sanctions related to Iran, focusing on one individual and multiple entities, including a Chinese oil refinery accused of purchasing and processing Iranian crude oil. This action represents the fourth round of sanctions since President Trump's initiation of a "maximum pressure" campaign in February, intended to cut Iran's oil exports to zero. The U.S. claims that these measures are designed to prevent Tehran from developing nuclear weapons and supporting militant groups.
The Treasury Department specifically targeted Shandong Shouguang Luqing Petrochemical Co., Ltd., based in China, for allegedly acquiring substantial quantities of Iranian oil valued at hundreds of millions of dollars. The U.S. claims that this refinery is linked to vessels associated with the Iranian military as well as the Houthi group, which the U.S. designates as a Foreign Terrorist Organization. Secretary of the Treasury Scott Bessent stated that purchases of Iranian oil are said to provide vital economic support to the Islamic Republic.
In tandem with these sanctions, the Office of Foreign Assets Control (OFAC) imposed restrictions on 19 additional entities and vessels said to be involved in the transportation of Iranian oil, part of what is claimed to be Iran's "shadow fleet." These actions are implemented under Executive Order 13902, targeting Iran’s petroleum sector.
As a result, all assets of the designated individuals and entities within U.S. jurisdiction are blocked, and related transactions are prohibited.