The U.S. Department of the Treasury has imposed sanctions on one of China's major independent oil refineries, Hengli Petrochemical (Dalian) Co., Ltd.
It is reported that the refinery has purchased hundreds of millions of dollars' worth of oil from Iran, thereby generating substantial revenue for Iran's military system.
The department's statement noted that Hengli is one of Tehran's largest customers. Additionally, nearly 40 companies and vessels linked to Iran's "shadow fleet" have been added to the sanctions list.
China condemned the decision, urging the U.S. not to politicize trade and technology issues.
For reference, a large portion of China's oil imports comes from the Middle East, and the volume of oil transshipped from Iran also accounts for a significant share.
