US sanctions China’s ‘teapot’ refinery for buying Iranian oil

{ "title": "US Slaps Sanctions on Chinese ‘Teapot’ Refinery Over Iranian Oil Imports", "content": "The United States has imposed sanctions on a Chinese independent refinery, accusing it of channeling hundreds of millions of dollars to Iran's military through the purchase of Iranian crude. The U.S. Treasury Department announced the action against Hengli Petrochemical, a so-called "teapot" refinery, as part of its ongoing efforts to choke off funding to Tehran's defense programs.\n\nAccording to the Treasury, the refinery's transactions provided significant financial support to Iran's armed forces, which the U.S. designates as a terrorist organization. The sanctions freeze any U.S.-held assets of the company and prohibit American entities from doing business with it.\n\nThis move is the latest in a series of sanctions targeting Chinese refiners that bypass U.S. restrictions by buying discounted Iranian oil. Analysts say such refineries, often smaller and privately owned, are critical to Iran's ability to sell its oil despite international sanctions, generating revenue that sustains its economy and military."