Trump hits China refinery Hengli with sanctions, targets 40 firms tied to Iran oil trade

by

The Trump administration imposed sanctions today on the Hengli Refinery in China as well as on 40 shipping firms and vessels involved in transporting Iranian oil.

Hengli, one of China’s largest independent refineries with a processing capacity of about 400,000 barrels per day, has purchased billions of dollars’ worth of Iranian crude oil and petroleum products since at least 2023.

The sanctions target Hengli as one of Iran’s largest customers, along with a network of shadow fleet vessels and companies facilitating the trade.