U.S. Intensifies Sanctions on Chinese 'Teapot' Oil Refineries Amid Iran Talks
The Trump administration imposes sanctions on a third Chinese oil refinery for purchasing Iranian oil ahead of U.S.-Iran nuclear talks. The U.S. aims to cut off Iran's revenue to pressure Tehran into nuclear negotiations. The sanctions have begun to deter other Chinese refiners from buying Iranian crude.
The Trump administration has escalated its pressure tactics, imposing sanctions on a third independent Chinese 'teapot' oil refinery over purchases of Iranian oil. This move comes ahead of the anticipated U.S.-Iran nuclear talks, aiming to restrict Iran's export revenue.
The U.S. Treasury identified Hebei Xinhai Chemical Group refinery and three port terminal operators for processing significant amounts of Iranian oil. With a policy of maximum pressure, Washington seeks to coerce Tehran into a deal limiting its nuclear program and halting militant funding.
Despite sanctions curtailing refineries' oil purchases, some importers remain undeterred. Analysts believe Washington may target more sensitive entities if Beijing continues importing Iranian crude, as both countries navigate complex economic relations.
(With inputs from agencies.)
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