US Sanctions Hengli Refinery Over Iranian Oil Purchases
The United States Treasury has sanctioned Hengli Petrochemical, China’s second-largest independent “teapot” refinery, for its role in financing the Iranian military. Officials allege the refinery acted as a primary purchaser of Iranian crude, funneling hundreds of millions of dollars to Tehran. This move intensifies Washington’s broader campaign to dismantle Iran’s “shadow fleet” and starve the…