The United States on Thursday imposed sweeping sanctions on roughly 100 individuals, entities, and vessels accused of helping Iran sustain its oil and petrochemical trade, including a Chinese refinery and shipping terminal that Washington says have played key roles in Tehran's sanctions-evasion network.
The Treasury Department identified Shandong Jincheng Petrochemical Group, an independent refinery in China's Shandong Province, as one of the primary buyers of Iranian crude since 2023. It also blacklisted Rizhao Shihua Crude Oil Terminal, which operates at Lanshan Port, for receiving shipments from what officials described as Iran's "shadow fleet" - a group of tankers used to disguise the origins of oil exports.
Among the sanctioned vessels were the Kongm, Big Mag, and Voy, which the Treasury said collectively transported several million barrels of Iranian oil to Rizhao. "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.
The move marks the fourth round of sanctions this year targeting China-based companies that U.S. officials say continue to buy Iranian crude in violation of international restrictions. The Biden administration previously focused on intermediary shipping and insurance networks; Thursday's measures expand those penalties to include refineries, logistics terminals, and a growing web of vessel operators.
At a White House cabinet meeting following the announcement, President Donald Trump said Tehran had privately expressed support for the newly signed Israel-Hamas ceasefire and hostage deal but warned that Iran must not resume nuclear weapons development. "We'd like to see them be able to rebuild their country too, but they can't have a nuclear weapon," Trump said, adding that he plans to travel to the Middle East soon.
The State Department also designated Jiangyin Foreversun Chemical Logistics, the first China-based terminal cited for receiving Iranian-origin petrochemical products. The Treasury said the sanctions aim to "reduce Iran's ability to generate illicit revenue that supports its nuclear and missile programs, and its proxies across the Middle East."
Despite the measures, Iran's oil exports continue to climb. United Against a Nuclear Iran, a watchdog group that tracks the country's shipments, reported that Tehran exported about 63.2 million barrels in September - the highest level this year - valued at roughly $4.26 billion. The group said the surge likely reflected stockpiling ahead of the expected reimposition of U.N. sanctions.
Beijing condemned the move. "China has always firmly opposed the United States' abuse of illegal unilateral sanctions," said Liu Pengyu, spokesperson for the Chinese Embassy in Washington. "The United States should stop interfering with, and undermining, the normal economic and trade cooperation between China and Iran. China will take all necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies."
