U.S. Treasury Sanctions Chinese Refinery for Iranian Oil Purchases, Impacting Iran's Military Revenue
The U.S. Department of the Treasury has imposed sanctions on Hengli Petrochemical (Dalian) Refinery, China's second-largest independent refinery, for purchasing Iranian oil. This move is part of a broader strategy to curb Iran's oil trade, which is a significant revenue source for its military. The sanctions also target approximately 40 shipping firms and vessels involved in Iran's oil trade network. The Chinese embassy in Washington, DC, has criticized the sanctions, urging the U.S. to cease politicizing trade and technology issues. The sanctions come amid ongoing tensions and potential new talks aimed at resolving the U.S.-Israeli conflict with Iran. 
