US sanctions against Iran: First Chinese refinery affected.
The US government on Thursday issued new Iran-related sanctions, targeting entities including, for the first time, a Chinese “teapot,” or independent refinery, and vessels that supplied crude oil to such processing plants. The company affected is Shandong Shouguang Luqing Petrochemical Co, Ltd, which processes Iranian crude oil. “So-called ‘teapot’ refinery purchases of Iranian oil provide […]