Latest news with #IranianOil
South China Morning Post
13-05-2025
- Business
- South China Morning Post
US sanctions firms it says sent Iranian oil to China
The US Treasury Department on Tuesday imposed sanctions on more than 20 companies in a network that it said has long sent Iranian oil to China, days after negotiators from Iran and the United States concluded a fourth round of nuclear talks. The network facilitated the shipment of oil worth billions of dollars to China on behalf of Iran's Armed Forces General Staff and its front company, Sepehr Energy, Treasury said. The department sanctioned companies including CCIC Singapore PTE, which it said helped Sepehr by concealing the oil's Iranian origins and carried out pre-delivery inspections required before oil was transferred to China. It also sanctioned Huangdao Inspection and Certification Co for having assisted Sepehr. Treasury also sanctioned Qingdao Linkrich International Shipping Agency Co which it said has assisted Sepehr Energy-chartered vessels with their arrival and discharge at Qingdao Port as its designated port agent. The sale of the oil helped fund the development of Iranian ballistic missiles and drones, nuclear proliferation, and attacks by the Houthi militant group on shipping in the Red Sea, the US Navy and Israel, said Tammy Bruce, a State Department spokeswoman. People attend the 29th Iran International Oil, Gas, Refining, and Petrochemical Exhibition at the Tehran International Exhibition Complex on Friday. Photo: EPA-EFE 'We will continue to use all the tools at our disposal to hold the regime accountable,' Bruce said.
Reuters
13-05-2025
- Business
- Reuters
US imposes sanctions on network sending Iranian oil to China
WASHINGTON, May 13 (Reuters) - The U.S. on Tuesday imposed sanctions on a shipping network it says has sent millions of barrels of Iranian oil to China, the State Department said, days after Iran and U.S. negotiators concluded a fourth round of nuclear talks in Oman. The sale of the oil helped fund Iranian weapons and attacks by the Houthi militant group on shipping in the Red Sea, the U.S. Navy and Israel, it said. The network facilitated the shipment of oil worth billions of dollars to China on behalf of Iran's Armed Forces General Staff and its front company, Sepehr Energy, it said.
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.
Bloomberg
08-05-2025
- Business
- Bloomberg
Zombie Oil Supertanker in China Points to Iran Trade Workarounds
After buckling under pressure from Beijing and Washington, the clandestine supply chain that carries Iranian crude to China is finding new workarounds. A tanker identifying itself as Global discharged about 2 million barrels of Iranian oil at a port managed by a Chinese provincial government in late April, ship-tracking data show. However, the vessel was actually a very large crude carrier called Gather View that had been sanctioned by the US and took over the identity of a previously scrapped ship to evade a crackdown on the trade.
