U.S. Imposes 4th Round of Sanctions on Iranian Oil Trade


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- The United States is targeting over 50 facilitators of 
Iranian oil and liquefied petroleum gas sales and shipments, including 
China-based refineries, in a fourth round of sanctions imposed by the Trump 
administration, the Treasury Department announced Thursday (10/9).

   "OFAC is intensifying its efforts against Iran's petroleum and petrochemical 
exports by sanctioning over 50 individuals, entities, and vessels," the 
department said, referring to its Office of Foreign Assets Control (OFAC).

   "These actors have collectively enabled the export of billions of dollars' 
worth of petroleum and petroleum products, providing critical revenue to the 
Iranian regime and its support for terrorist groups that threaten the United 
States," it added.

   Aside from Iran, OFAC has also sanctioned on Russian oil over the Ukraine 
war and Venezuelan oil to pressure for democratic outcomes in the Latin 
American country.

   The action against Tehran builds on earlier sanctions from July and August 
where the Trump administration targeted China-based refineries it said were 
purchasers and major enablers of Iranian oil.

   The latest actions directly target what the Treasury described as key 
commercial actors responsible for moving Iran's oil and liquefied petroleum gas 
into global markets.

   In the Middle East, the core of the illicit network centers on UAE-based 
entities such as Amita Petrochemical Trading, Markan White Trading Crude Oil 
Abroad Co., and Slogal Energy DMCC.

   These firms are charged with facilitating the sale and shipment of Iranian 
LPG and petrochemicals, coordinating multi-million-dollar transactions on 
behalf of Iran's state-owned broker, Persian Gulf Petrochemical Industry 
Commercial Co.

   Crucially, the Treasury also reached directly into China's energy 
infrastructure by sanctioning the demand side. The major independent refinery, 
Shandong Jincheng Petrochemical Group Co, was targeted for having purchased 
millions of barrels of Iranian crude oil since 2023.

   Further, Rizhao Shihua, a Chinese terminal operator at Qingdao Port, was 
sanctioned for its role in offloading Iranian crude oil shipments, providing a 
vital logistics link for Tehran's sanctioned National Iranian Oil Company.

   OFAC said sanctions have also been placed on a "shadow fleet" of nearly two 
dozen vessels and their associated owners and operators -- such as the Gas Dior 
and Max Star -- which were actively used to ferry Iranian crude oil and LPG to 
destinations in China, Sri Lanka, and Bangladesh.




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