Washington unveils another package of sanctions aimed at Iran’s oil shipments

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated the teapot refinery Hebei Xinhai Chemical Group and three port terminal operators in Shandong Province for their role in purchasing or facilitating the delivery of hundreds of millions of dollars’ worth of Iranian oil.  OFAC has also imposed sanctions on several companies, vessels, and captains responsible for facilitating Iranian oil shipments as part of Iran’s shadow fleet.  This is OFAC’s third action against a teapot refinery and its first targeting terminal operators at Dongying Port in Shandong Province.  

The Panama-flagged Star Twinkle 6,  Skadi, and Big Mag, Sao Tome and Principe-flagged Impalas, and San Marino-flagged Thane were all added to the US’s extensive ship sanctions list as were the companies operating the vessels.

Two Indian vessel captains who have served for several years onboard sanctioned shadow fleet vessels were also hit by sanctions.

“As part of President Trump’s broad and aggressive maximum pressure campaign, Treasury today is targeting another teapot refinery that imported Iranian oil,” said secretary of the treasury Scott Bessent.  “The United States remains resolved to intensify pressure on all elements of Iran’s oil supply chain to prevent the regime from generating revenue to further its destabilising agenda.”