The United States has escalated its economic pressure on Iran by imposing additional sanctions aimed at disrupting the country’s oil trade, a major source of government revenue.
The latest measures target a prominent Chinese refinery, Hengli Petrochemical, as well as nearly 40 other entities, including vessels and their owners or managers involved in transporting Iranian oil.
The refinery operates under the Hengli Group, which is active across multiple sectors, including oil refining, petrochemicals, textiles, and polyester production.
According to the United States Department of the Treasury, the action is intended to limit financial flows that Washington says are used to fund Iran’s regional activities.
U.S. officials stated that the move is part of a broader effort to ensure Tehran cannot use “illicit oil revenues to advance its malign agenda” while the country faces internal economic challenges.
Earlier in the week, the U.S. government also imposed sanctions on 12 individuals and entities linked to procurement networks supporting Iran’s unmanned aerial vehicle (UAV) and ballistic missile programmes. The measures extended to Mahan Air, with two of its aircraft designated as blocked property.
Authorities have previously accused the airline of transporting personnel, equipment, and funds associated with the Islamic Revolutionary Guard Corps (IRGC).
The United States Department of State said the sanctions align with international restrictions reimposed over what it described as Iran’s “significant non-performance” of its nuclear obligations.
Treasury Secretary Scott Bessent indicated that enforcement efforts could have immediate operational impacts, projecting that oil storage facilities on Kharg Island may soon reach full capacity, potentially forcing a slowdown in production.
He also warned that any individual or entity involved in facilitating covert oil trade or financial transactions linked to Iran risks exposure to further punitive measures by the United States.
