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April 17, 2025
The United States on Wednesday issued new sanctions targeting Iran’s oil exports, including against a China-based “teapot refinery,” as President Donald Trump’s administration seeks to ramp up pressure on Tehran.
“Teapot” is an industry term for small independent oil refiners.
The US Treasury Department said in a statement the action would increase pressure on Chinese importers of Iranian oil as Trump seeks to restore his “maximum pressure” campaign on Iran, which includes efforts to drive its oil exports down to zero.
The action comes as the Trump administration has relaunched negotiations with Iran over its nuclear program this month, with talks in Oman last weekend and a second round expected in Rome this weekend.
The Treasury on Wednesday said it imposed sanctions on a China-based independent “teapot” refinery it accused of playing a role in purchasing more than $1 billion worth of Iranian crude oil. It was the second small independent Chinese refinery hit with sanctions by the Trump administration so far.
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Liu Pengyu, spokesperson for the Chinese Embassy in Washington, called on the US to immediately stop its “unwarranted suppression” of Chinese entities and individuals.
“China will take necessary steps to safeguard its legitimate rights and interests,” Liu said in a statement.
China does not recognize US sanctions and is the largest importer of Iranian oil. China and Iran have built a trading system that uses mostly Chinese yuan and a network of middlemen, avoiding the dollar and exposure to US regulators.
“Any refinery, company, or broker that chooses to purchase Iranian oil or facilitate Iran’s oil trade places itself at serious risk,” Treasury Secretary Scott Bessent said in the statement.
Full story:
The United States on Wednesday issued new sanctions targeting Iran’s oil exports, including against a China-based “teapot refinery,” as President Donald Trump’s administration seeks to ramp up pressure on Tehran.
“Teapot” is an industry term for small independent oil refiners.
The US Treasury Department said in a statement the action would increase pressure on Chinese importers of Iranian oil as Trump seeks to restore his “maximum pressure” campaign on Iran, which includes efforts to drive its oil exports down to zero.
The action comes as the Trump administration has relaunched negotiations with Iran over its nuclear program this month, with talks in Oman last weekend and a second round expected in Rome this weekend.
The Treasury on Wednesday said it imposed sanctions on a China-based independent “teapot” refinery it accused of playing a role in purchasing more than $1 billion worth of Iranian crude oil. It was the second small independent Chinese refinery hit with sanctions by the Trump administration so far.
.
Liu Pengyu, spokesperson for the Chinese Embassy in Washington, called on the US to immediately stop its “unwarranted suppression” of Chinese entities and individuals.
“China will take necessary steps to safeguard its legitimate rights and interests,” Liu said in a statement.
China does not recognize US sanctions and is the largest importer of Iranian oil. China and Iran have built a trading system that uses mostly Chinese yuan and a network of middlemen, avoiding the dollar and exposure to US regulators.
“Any refinery, company, or broker that chooses to purchase Iranian oil or facilitate Iran’s oil trade places itself at serious risk,” Treasury Secretary Scott Bessent said in the statement.
Full story:
