US Sanctions Chinese Refinery, Vessels in Expanded Pressure on Iran oil Trade
The US sanctioned a Chinese refinery and vessels tied to Iran’s oil trade, alongside separate action freezing $344 million in crypto assets linked to Tehran.
ERBIL (Kurdistan 24) — The United States has expanded its sanctions campaign against Iran, targeting a Chinese refinery and dozens of vessels linked to Tehran’s oil export network, in a move aimed at cutting off a major source of revenue.
In a statement issued on Friday, State Department spokesperson Tommy Pigott said Washington is taking “decisive action” to disrupt what it described as Iran’s illicit oil trade.
“The United States is taking decisive action to disrupt Iran’s illicit oil trade, the Iranian regime's primary revenue streams that fund its terrorism and destabilization of the region,” Pigott said.
According to the statement, the U.S. Department of the Treasury imposed sanctions on a major independent Chinese refinery along with nearly 40 additional targets, including vessels and their respective owners or managers.
The measures are intended to restrict key channels used for exporting Iranian oil and to reduce financial flows linked to Tehran’s activities across the Middle East.
“This action cuts revenue streams that fund the regime's destabilizing activities across the Middle East,” the statement said, adding that the administration’s pressure campaign aims to hold Tehran accountable for what it described as regional aggression and threats to U.S. interests.
The statement emphasized that the sanctions are part of a broader effort to limit Iran’s ability to finance proxy forces and other activities viewed by Washington as destabilizing.
“These measures underscore the U.S. commitment to disrupting Iran's ability to fund terrorism, support proxy forces, and threaten regional stability,” Pigott said.
The United States also indicated that further steps are expected as part of its ongoing economic campaign.
“The United States will intensify economic pressure on Iran and the international network that sustains its illicit energy trade as a part of Economic Fury,” the statement added.
The sanctions were imposed under Executive Order 13902, which targets individuals and entities operating in Iran’s petroleum and petrochemical sectors, and are aligned with National Security Presidential Memorandum 2, directing the continuation of maximum pressure measures.
The latest sanctions reflect an escalation in U.S. economic measures targeting Iran’s energy sector and international networks facilitating its oil exports. The move also comes alongside separate Treasury actions targeting digital financial channels, including the freezing of $344 million in cryptocurrency linked to Iran, underscoring a broader effort to restrict multiple revenue streams tied to Tehran.