The U.S. Treasury’s Office of Foreign Assets Control has imposed sanctions on more than 50 individuals, companies, and vessels allegedly enabling Iran’s petroleum and petrochemical exports, while the State Department announced about 40 additional designations the same day.
The Treasury said the measures target Iran’s “shadow fleet,” a China-based crude oil terminal, and an independent “teapot” refinery that have transported millions of barrels of Iranian oil and LPG.
“Treasury is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine,” Treasury Secretary Scott Bessent said, adding that the move is aimed at limiting Tehran’s revenue used to support militant groups.
The sanctions package relies on Executive Orders 13902 and 13846. Among those designated are Shandong Jincheng Petrochemical Group Co., Ltd., described as an independent refinery in Shandong Province that “purchased millions of barrels of Iranian oil since 2023,” and Rizhao Shihua Crude Oil Terminal Co., Ltd., operator of a terminal in the Lanshan area that accepted more than a dozen “shadow fleet” tankers, including the KONGM, BIG MAG, and VOY, carrying several million barrels of Iranian crude to Rizhao.
Other entities identified include Bertha Shipping Inc., Evie Lines Inc., Vega Star Ship Management Pvt. Ltd., and Titan Seaways Ltd., each allegedly involved in transporting Iranian-origin LPG to China, Pakistan, and Bangladesh.
Treasury also cited Qingdao Hexin United International Shipping Agency Co., Ltd. for facilitating the offloading of Iranian crude at Haiye Terminal in Qingdao.
The Treasury further named brokers and intermediaries, including UAE-based Markan White Trading Crude Oil Abroad Co. LLC, Slogal Energy DMCC, and Amita Petrochemical Trading LLC, as well as Hong Kong-based Crimson Blue Trading Co., Limited and AIX Company Limited, which it said structured or facilitated oil and petrochemical trades.
In parallel, the State Department said it sanctioned around 40 more individuals, entities, and vessels connected to Iran’s petroleum and petrochemical trade, including Jiangyin Foreversun Chemical Logistics Co., Ltd. for receiving Iranian-origin petrochemical products in China.
The Treasury described the measures as the fourth round this year aimed at China-based refineries continuing to import Iranian oil. The sanctions freeze U.S.-jurisdiction property and prohibit U.S. persons from dealing with designated entities, increasing compliance risks for parties linked to the listed vessels, terminals, and intermediaries.
