Sri Lanka, April 17 -- The US imposed sanctions on Wednesday on Shandong Shengxing Chemical Co. Ltd, a Chinese refinery, for buying Iranian crude oil worth over USD 1 billion as President Donald Trump's administration seeks to ramp up pressure on Tehran.
The U.S. 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 programme this month, with talks in Oman last weekend and a second round expected in Rome this weekend.
A statement from the US State Departmen...