ANI
16 Apr 2025, 22:45 GMT+10
Washington, DC [US], April 16 (ANI): The US imposed sanctions on Wednesday on Shandong Shengxing Chemical Co., Ltd, a Chinese refinery, for buying over USD 1 billion worth of Iranian crude oil.
This move is part of the US effort to halt Iran's illicit oil exports, particularly to China. The sanctions also target companies and vessels involved in shipping Iranian oil to China.
According to the US State Department, 'the United States is today sanctioning Shandong Shengxing Chemical Co, Ltd, a China-based independent 'teapot' refinery, for purchasing more than a billion dollars' worth of Iranian crude oil.'
'The President is committed to driving Iran's illicit oil exports, including to China, to zero. The United States is also imposing sanctions on several companies and vessels involved in facilitating Iranian oil shipments to China as part of Iran's 'shadow' fleet,' it added.
This is the United States' second action against an independent China-based teapot refinery since President Donald Trump issued National Security Presidential Memorandum 2 on February 4.
Further, the statement noted that all sanctions will be fully enforced under the Trump Administration's maximum-pressure campaign on Iran.
As long as Iran attempts to generate oil revenues to fund its destabilising activities, the United States will hold both Iran and all its partners in sanctions evasion accountable, the US State Department said.
The US earlier enacted restrictions on the export of Nvidia's H20 chips to China, tightening its control over the trade of advanced AI technology with Beijing as part of Washington's strategy to exert pressure on China amid an ongoing tariff dispute, Radio Free Asia (RFA) reported.
Nvidia, a prominent player in AI chip development worldwide, said on Tuesday that the US government informed them on April 9 that exporting its H20 chips to China would now necessitate government permission.
The company also stated that this restriction would be in effect indefinitely. (ANI)
Get a daily dose of Illinois Intelligencer news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Illinois Intelligencer.
More InformationWashington, DC [US], April 16 (ANI): The US imposed sanctions on Wednesday on Shandong Shengxing Chemical Co., Ltd, a Chinese refinery,...
The White House has insisted Beijing must make a deal and threatened it with tariffs of up to 245% China has called on the US to...
Washington [US], April 16 (ANI): Days before Gene Hackman and his wife Betsy Arakawa's death, the actor's wife had Googled online for...
Washington, DC [US], April 16 (ANI): US Vice President JD Vance is scheduled to visit India next week. He will meet with Prime Minister...
Washington DC [US], April 16 (ANI): US President Donald Trump on Wednesday criticised Harvard University, denouncing its hiring practices...
Beijing [China], April 16 (ANI): Three democracy-supporting banners were displayed on an overpass in Chengdu, a city in southwestern...
WASHINGTON, D.C: The U.S. Department of Justice has told its lawyers they can no longer attend or speak at events hosted by the American...
WASHINGTON, D.C: U.S. Defense Secretary Pete Hegseth has canceled several technology service contracts worth US$5.1 billion. These...
WASHINGTON, D.C: U.S. President Donald Trump said this week that farmers might be allowed to ask the government to keep some farmworkers...
BEIJING, China: As tensions with Washington deepen, Chinese President Xi Jinping is turning his focus to Southeast Asia, with a diplomatic...
PASADENA, California: Because many people are worried about dangerous chemicals in smoke, ash, and debris from recent wildfires, Los...
WASHINGTON, D.C.: President Donald Trump, who had often complained about weak water pressure in showers, has signed an order to remove...