U.S. Imposes New Sanctions On Over 50 Entities Linked To Iran’s Oil Industry

The United States Treasury Department announced sanctions Thursday against more than 50 individuals, companies, and vessels connected to Iran’s oil sector, intensifying efforts to curb Tehran’s energy exports — a vital source of funding for the terror-sponsoring, Islamic regime.

According to the Treasury, the new measures target those helping Iran export liquified petroleum gas. Among the sanctioned entities are a Chinese port and a China-based “teapot” oil refinery accused of facilitating Iranian oil shipments.

The move follows last month’s United Nations decision to reimpose “snapback” sanctions on Iran in response to its nuclear and ballistic missile programs, deepening the Islamic Republic’s diplomatic isolation.

“The Treasury Department is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine,” Treasury Secretary Scott Bessent said in a statement.

Among the newly sanctioned entities is Shandong Jincheng Petrochemical Group Co., a Chinese refinery that, according to the Treasury, purchased millions of barrels of Iranian crude since 2023.

Also blacklisted is the operator of the Rizhao Shihua Crude Oil Terminal at Lanshan Port, which U.S. officials said has accepted more than a dozen “shadow fleet” tankers carrying Iranian oil.

This marks the fourth round of U.S. sanctions against Chinese refineries since President Donald Trump returned to office in January, part of his administration’s broader “maximum pressure” campaign on Tehran.

Under the new designations, any “property and interests in property” held by those sanctioned, within the U.S. or controlled by American citizens or companies, are frozen and must be reported to the Office of Foreign Assets Control.

Additionally, any firms owned directly or indirectly by sanctioned individuals are also subject to blocking measures, the Treasury confirmed.