President Trump to Decide on Sanctions for Chinese Firms Importing Iranian Oil
President Trump announced that he will soon decide whether to lift sanctions on Chinese companies purchasing Iranian oil. This decision is part of the U.S.'s 'maximum pressure' campaign against Iran, aimed at cutting off its revenue streams. Earlier this year, the U.S. sanctioned several Chinese refineries, including Hengli Petrochemical, for importing Iranian oil. These refineries often use a 'shadow fleet' of tankers to evade detection, employing tactics like disabling tracking systems and conducting ship-to-ship transfers. The decision follows President Trump's recent visit to China, where discussions about the sanctions took place.