The Trump administration on Thursday targeted Iranian oil with a new slate of sanctions – a move that increases pressure on the Islamic Republic amid talks between U.S. and Iranian officials to make a deal to prevent nuclear proliferation, Fox News Digital has learned.
The Treasury Department’s Office of Foreign Assets Control increased pressure on Iran’s export of oil Thursday, designating the ‘teapot’ refinery Hebei Xinhai Chemical Group Co., Ltd., and three port terminal operators in Shandong province, China, for their role in purchasing or facilitating the delivery of hundreds of millions of dollars’ worth of Iranian oil.
The ‘teapot’ refineries purchase the majority of Iranian crude oil exports, according to the Treasury Department.
The Treasury Department on Thursday is also imposing sanctions on several companies, vessels and captains they say are responsible for facilitating Iranian oil shipments as part of Iran’s so-called ‘shadow fleet.’ The companies and vessels are all China-based.
‘As part of President Trump’s broad and aggressive maximum pressure campaign, Treasury today is targeting another teapot refinery that imported Iranian oil,’ Treasury Secretary Scott Bessent said. ‘The United States remains resolved to intensify pressure on all elements of Iran’s oil supply chain to prevent the regime from generating revenue to further its destabilizing agenda.’
The sanctions come following President Donald Trump’s executive order, which targets Iran’s petroleum and petrochemical sectors – as well as another executive order targeting those that provide support to the National Iranian Oil Company.
Thursday’s sanctions are the latest round targeting Iranian oil sales since the president, in early February, issued a national security memorandum that instituted a campaign of ‘maximum economic pressure on Iran.’
As for Iran’s ‘shadow fleet,’ Tehran relies on obscure ship management companies to manage its fleet of tankers that ‘mask’ Iran’s petroleum shipments to China using ship-to-ship transfers with sanctioned vessels.
The Treasury Department on Thursday took action to increase pressure on that ‘shadow fleet’ of actors by designating ships as ‘blocked property.’
