Latest news with #HebeiXinhai
Free Malaysia Today
09-05-2025
- Business
- Free Malaysia Today
US sanctions third ‘teapot' refinery in China over Iranian oil
Hebei Xinhai is the third Chinese teapot refinery the US has sanctioned after taking action against one in Shandong Province in March and another in April.(Xinhai pic) WASHINGTON : The US treasury department sanctioned an oil refinery in China, along with port terminal operators, vessels, companies and individuals — it accuses them of facilitating the Iranian crude trade, which it said funds Tehran's military and violates existing US sanctions. Hebei Xinhai Chemical Group, Ltd, a so-called teapot refinery in Hebei Province, was the main target of yesterday's action. Treasury said in a statement that the refinery has received multiple shipments of Iranian oil worth hundreds of millions of dollars from vessels operating as part of a shadow fleet. Along with the refinery, the treasury also sanctioned three firms for operating a terminal at Dongying Port, which the US alleges took several shipments of Iranian oil since last year. The department also sanctioned six vessels and two Indian-national ship captains for allegedly transporting Iranian oil. Hebei Xinhai is the third Chinese teapot refinery the US has sanctioned after it took action against one in Shandong Province in March and a second in April. The company also owns Singapore-based oil broker Xing AO Energy Pte Ltd, which treasury also sanctioned. The increased attention on these independent refiners in Shandong, which are the biggest buyers of Iranian crude, is part of a 'maximum pressure' campaign against Tehran ordered by President Donald Trump and carried out by the treasury, which implements the bulk of US sanctions. The US 'remains resolved to intensify pressure on all elements of Iran's oil supply chain to prevent the regime from generating revenue to further its destabilising agenda,' treasury secretary Scott Bessent said in a statement. Oil revenue is crucial to Tehran and a lifeline for Shandong's private processors. In the past, the trade has been facilitated by ship-to-ship transfers in the waters off Malaysia to mask the origins of the cargoes. A crackdown by the US, as well as China, since January has snarled that supply chain. Traders have since turned to privately run berths to receive the cargoes.
LBCI
08-05-2025
- Business
- LBCI
US imposes Iran-related sanctions on third China 'teapot' refinery, ports
U.S. President Donald Trump's administration on Thursday imposed sanctions on a third Chinese independent - or "teapot" - oil refinery, and port terminal operators in China for purchases of Iranian oil. The U.S. Treasury designated the Hebei Xinhai Chemical Group Co refinery and three port terminal operators in China. It was the latest independent Chinese refinery targeted by the Trump administration as it steps up efforts to cut off Iran's export revenue and seeks to pressure Tehran into a deal to curb its nuclear program. "So long as Iran attempts to generate oil revenues to fund its destabilizing activities, the United States will hold both Iran and all its partners in sanctions evasion accountable," the U.S. Treasury said in a statement. Previous sanctions imposed on two small Chinese refiners for buying Iranian oil have created difficulties in receiving oil, leading them to halt purchases of crude and sell product under other names, sources familiar with the matter said. Those sanctions have also begun to deter other, larger independent Chinese refiners from buying Iranian crude, three of the sources said. Reuters
Asharq Al-Awsat
08-05-2025
- Business
- Asharq Al-Awsat
US Imposes Iran-Related Sanctions on Third China ‘Teapot' Refinery, Port Terminal
US President Donald Trump's administration on Thursday imposed sanctions on a third Chinese independent - or "teapot" - oil refinery, and port terminal operators in China for purchases of Iranian oil. The US Treasury designated the Hebei Xinhai Chemical Group refinery and three companies for operating a terminal at Dongying Port in Shandong Province. It said they had purchased or facilitated the delivery of hundreds of millions of dollars worth of Iranian oil. It was the latest independent Chinese refinery targeted by the Trump administration after it re-imposed a policy of "maximum pressure" that aims to cut off Iran's export revenue to pressure Tehran into a deal to curb its nuclear program and stop the funding of militant groups across the Middle East. "So long as Iran attempts to generate oil revenues to fund its destabilizing activities, the United States will hold both Iran and all its partners in sanctions evasion accountable," the US Treasury said in a statement. Previous sanctions imposed on two small Chinese refiners for buying Iranian oil have created difficulties in receiving oil, leading them to halt purchases of crude and sell product under other names, sources familiar with the matter said. Those sanctions have also begun to deter other, larger independent Chinese refiners from buying Iranian crude, three of the sources said. Iran's UN mission in New York and China's embassy in Washington did not immediately respond to requests for comment. The companies Treasury designated for operating the port terminal were Baogang (Dongying Donggang) Logistics and Warehousing Co, Ltd, Shandong Jingang Port Co, Ltd, and Shandong Baogang International Port Co, Ltd. Treasury said the companies operate a terminal in Dongying Port that has received more than one million barrels of Iranian oil from shadow fleet tankers. The sanctions block US assets of those designated and prevent Americans from doing business with them.
Reuters
08-05-2025
- Business
- Reuters
US imposes Iran-related sanctions on third China 'teapot' refinery, ports
WASHINGTON, May 8 (Reuters) - U.S. President Donald Trump's administration on Thursday imposed sanctions on a third Chinese independent - or "teapot" - oil refinery, and port terminal operators in China for purchases of Iranian oil. The U.S. Treasury designated the Hebei Xinhai Chemical Group Co refinery and three port terminal operators in China. It was the latest independent Chinese refinery targeted by the Trump administration as it steps up efforts to cut off Iran's export revenue and seeks to pressure Tehran into a deal to curb its nuclear program. "So long as Iran attempts to generate oil revenues to fund its destabilizing activities, the United States will hold both Iran and all its partners in sanctions evasion accountable," the U.S. Treasury said in a statement. Previous sanctions imposed on two small Chinese refiners for buying Iranian oil have created difficulties in receiving oil, leading them to halt purchases of crude and sell product under other names, sources familiar with the matter said. Those sanctions have also begun to deter other, larger independent Chinese refiners from buying Iranian crude, three of the sources said.
