The latest U.S. sanctions on Iranian crude oil exports have targeted a major Chinese state-owned terminal and a local refinery. Analysts said that the tightened sanctions will make the import of Iranian crude oil more costly for the Chinese regime and prompt it to look for alternatives, but won’t stop it from buying it.
The Treasury Department imposed sanctions on Oct. 9 on about 100 individuals, entities, and ships that helped Iran’s trade in oil and petrochemical products, including China’s Rizhao Shihua Crude Oil Terminal that operates a terminal at Lanshan port in Shandong Province and a “teapot” refinery….
New US Sanctions on Sinopec Terminal Unlikely to Stop Flow of Iran–China Oil: Analysts
