U.S. imposes sanctions on China oil refinery and 40 shippers over Iranian oil

On 2026-04-24, the U.S. Treasury Department imposed economic sanctions on a China-based oil refinery, Hengli Petrochemical’s facility in Dalian, and about 40 shipping companies and tankers linked to transporting Iranian oil. The administration said the network had received Iranian crude since 2023 and generated hundreds of millions of dollars in revenue for the Iranian military.