US Government Sanctions Chinese Entities Engaged in Iranian Oil Trade

The Treasury Department is blacklisting four entities in China for purchasing or facilitating the delivery of hundreds of millions of dollars in Iranian oil.

A gas flare on an oil production platform alongside an Iranian flag in the Persian Gulf, on July 25, 2005. Raheb Homavandi/Reuters

The U.S. government is unveiling a new suite of sanctions targeting Chinese entities engaged in the distribution of Iranian oil.

In a statement shared with The Epoch Times on May 8, the Treasury Department announced that it is blacklisting four entities in China for “their role in purchasing or facilitating the delivery of hundreds of millions of dollars’ worth of Iranian oil.”