The US State Department on Tuesday sanctioned Qingdao Haiye Oil Terminal, saying the China-based operator imported tens of millions of barrels of sanctioned Iranian crude oil. [1]
The sanctions list also names Li Xinchun, a Chinese national and president of a China-based oil terminal, a Hong Kong-based vessel management company and a British-based commercial manager. [1]
The department said the measures freeze any US-held assets of the designated entities and bar Americans from doing business with them. [1]
In a statement, the State Department said, "The United States is taking decisive action to disrupt Iran’s illicit oil trade, the Iranian regime’s primary revenue streams that fund terrorism and regional destabilisation." [1]
It added, "So long as Iran attempts to generate oil revenues to fund its destabilising activities, the United States will hold both Iran and all its sanctions-evading partners accountable." [1]
The department said the action was intended to disrupt Iran's illicit oil trade and hold Iran and sanctions-evading partners accountable. [1]
