US sanctions Chinese refiner Hengli and 19 Iran-linked tankers

The US Treasury's Office of Foreign Assets Control sanctioned Hengli Petrochemical (Dalian) Refinery, which it called one of China's largest independent teapot refiners, accusing it of buying billions of dollars' worth of Iranian crude. OFAC also designated 19 vessels and 19 shipping companies and other entities that it says form part of Iran's shadow fleet. Listed tankers include Lisboa, LPG Sevan and Bentley, flagged in states such as Panama, Hong Kong, Comoros and the Cook Islands. Treasury Secretary Scott Bessent said the campaign was "imposing a financial stranglehold on the Iranian regime".

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