Shafaq News/ On Friday, the UnitedStates imposed sanctions on a Chinese refinery and several related entities forimporting Iranian crude oil, the State Department said, in a move aimed atreinforcing Washington’s “maximum pressure” campaign against Tehran.
“The Department of the Treasury isconcurrently sanctioning China-based Shandong Shouguang Luqing PetrochemicalCo., Ltd., a ‘teapot’ oil refinery, for purchasing and refining hundreds ofmillions of dollars’ worth of Iranian crude oil,” the department said, addingthat private “teapot” refineries are the primary purchasers of Iranian oil inChina.
Traders told Reuters the measuresare expected to slow, but not stop, Chinese imports of Iranian oil. Shipmentsare likely to decline in the short term due to increased freight costs and therisk of secondary sanctions on shipping companies. However, some flows maycontinue as alternative arrangements are explored to bypass restrictions.
During his presidency, Donald Trumpreinstated the maximum pressure campaign against Iran, reimposing sanctions onkey sectors and blacklisting officials, including the oil minister.
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