Washington, April 25 -- The United States has escalated its sanctions campaign against Iran's energy and maritime networks, unveiling a sweeping new round of measures under "Economic Fury" aimed at disrupting Tehran's global oil trade and its so-called shadow fleet.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced sanctions against China-based Hengli Petrochemical (Dalian) Refinery Co., Ltd., one of the largest independent "teapot" refineries in China, alongside roughly 40 shipping firms and vessels accused of facilitating Iranian oil exports.
According to the Treasury Department, Hengli has emerged as a major buyer of Iranian crude oil, purchasing billions of dollars' worth of petroleum products and...