The United States announced on Thursday that it has imposed a fresh wave of sanctions on Iran’s military-linked oil trade, according to Reuters.
Fresh Sanctions
The announcement of new sanctions came amid the preliminary understanding between Washington and Tehran to prolong their ceasefire and ease restrictions on shipping through the Strait of Hormuz.
According to the Treasury Department, eight vessels accused of carrying Iranian crude oil and petroleum products to international markets were hit by the current sanctions.
The Marshall Islands-registered tanker Flora, the Comoros-flagged crude carrier Hauncayo, and the Panama-flagged tanker Ill Gap were among the sanctioned vessels.
“We will not allow the Iranian government to increase its oil revenue for the purpose of reconstituting its armed forces and military capabilities,” Treasury Secretary Scott Bessent said in a release.
War in Iran
On February 28, the United States and Israel launched strikes on Iran, targeting its leadership and triggering a new conflict in the Middle East.
Iran has been responding with a retaliatory counterattack in Bahrain, Kuwait, Saudi Arabia and Abu Dhabi as a retaliatory move, while launching barrages of missiles and drones toward Israel.
The conflict has spread across the Middle East, leaving thousands dead, triggering unprecedented disruptions to energy supplies especially after the blockade of the Strait of Hormuz.
The adversaries remain locked in a standoff over the Strait of Hormuz, as Iran tightens its control over maritime traffic while the United States continues to enforce a blockade on Iranian ports.
US Sanctions on Oil Refineries
The U.S. Treasury has recently imposed sanctions on Hengli Petrochemical, alleging that it had purchased billions of dollars’ worth of Iranian oil.
It also warned that any shippers paying fees to Iran for passing through the Strait of Hormuz, including charitable contributions to entities such as the Iranian Red Crescent Society, could face punitive sanctions.
In response, Chinses Ministry of Commerce announced in April that it had decided to combat US sanctions by issuing an injunction targeting measures imposed on five Chinese refiners accused of purchasing Iranian oil, according to Reuters.
Beijing identified the five entities as Hengli Petrochemical (Dalian) Refinery, as well as the so-called “teapot” refineries: Shandong Jincheng Petrochemical Group, Hebei Xinhai Chemical Group, Shouguang Luqing Petrochemical, along with Shandong Shengxing Chemical.
The Chinese Commerce Ministry described U.S. sanctions as a violation to “international law and the basic norms of international relations.”
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