US sanctions Chinese firm, vessel over Iranian oil trade

The United States has imposed sanctions on a Chinese company, along with several entities, an individual, and a vessel, over their involvement in the trade of Iranian oil, petroleum products, and petrochemical goods.

The measures were announced in a press release issued by the US Department of State, which outlined actions targeting participants in networks facilitating Iran’s energy exports.

Among those sanctioned is Qingdao Haiye Oil Terminal Co., Ltd., a Chinese oil terminal operator accused of importing Iranian oil that is subject to US sanctions.

According to the State Department, the company played a role in enabling financial flows to Tehran through transactions involving restricted cargo. The statement said, “Haiye has enabled the flow of billions of dollars to Tehran, which has relied on sophisticated evasion schemes, accepting cargo from vessels conducting illicit ship-to-ship transfers with sanctioned vessels. These vessels also conducted deceptive shipping practices that endangered legitimate maritime commerce.”

By Tamilla Hasanova