The OverRuled: China Trade Controls Resource Center has been updated with the following actions:
- 08 May 2025 (OFAC):
OFAC imposed sanctions on a China-based independent "teapot" refinery and three port terminal operators, for purchasing or facilitating the delivery of hundreds of millions of dollars' worth of Iranian oil, as well as several companies and individuals based in Hong Kong, the United Kingdom, the Marshall Islands, and India, for their involvement in facilitating the transportation of Iranian oil to China as part of Iran's "shadow fleet", pursuant to EO 13902 and EO 13846. EO 13902 targets Iran's petroleum and petrochemical sectors, and EO 13846 targets those providing support to the National Iranian Oil Company ("NIOC"). NIOC is blocked pursuant to EO 13846.
This is the United States' third action against a China-based independent teapot refinery since President Trump issued National Security Presidential Memorandum 2 on February 4, 2025.
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