US imposes sanctions on Chinese teapot refinery for buying Iranian oil

The Trump administration said on Friday it imposed sanctions on an independent “teapot” refinery in China for buying billions of dollars’ worth of Iranian oil as Washington and Tehran struggle to restart peace talks.The Treasury Department targeted Hengli Petrochemical (Dalian) Refinery Co, which it said is one of Iran’s largest customers of crude oil and petroleum products. The department’s Office of Foreign Assets Control said it also imposed sanctions on about 40 shipping companies and vessels that operate as part of Iran’s shadow fleet. The Trump administration last year imposed sanctions on teapots Hebei Xinhai Chemical Group, Shandong Shouguang Luqing Petrochemical, and Shandong Shengxing Chemical.For all the latest headlines, follow our Google News channel online or via the app.That created some hurdles for the refiners, including receiving crude and forcing them to sell refined products under different names. Teapots account for roughly a quarter of Chinese refinery capacity,

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