U.S. targets Chinese refinery and ships in crackdown on Iran oil trade

On 2026-04-25, the U.S. Treasury’s OFAC sanctioned Hengli Petrochemical (Dalian) Refinery Co. and blacklisted 19 vessels plus 18 shipping-related entities over alleged links to Iranian oil trade. The move expanded Washington’s pressure campaign on Tehran by targeting a major Chinese buyer and the shadow tanker network moving Iranian crude.