Penalties were introduced against Chinese oil enterprise Luqing Petrochemical, its head, as well as eight shadow fleet ships and four companies they owned.
The US government first punished China for buying oil under American penalties, which could affect Russian oil supply. This was reported by the Office of Foreign Asset of the US Department of Finance (OFAC) on Thursday, March 20.
The US administration imposed sanctions against Chinese oil refrigerator Shandong Shuguang Luqing Petrochemical, who bought Iran’s oil, violating international restrictions.
This is the first time Washington has punished China for working with Tehran in the field of energy.
According to the US Department of Finance, the Chinese business has gained millions of oil barrels for $ 500 million.
In addition, this oil is associated with Iran’s military structures, especially the corps of the carers of the Islamic Revolution. Along with the company, its general director fell under penalties.
Restrictions can affect not only Iran’s supplies, but also Russian oil. The province of Shandong, where Shandong Shougguang Luqing Petrochemil is located, is the oil center of oil for private Chinese companies who have previously actively purchased Russian oil.
Although supplies from Russia to Shandong have been reduced after penalties imposed by the Joe Biden Administration on January 10, it is still unknown if this China business has been purchased with Russia’s oil recently. It is known that during the Covid-19 pandemic, the company received Russian oil loads.
In addition to the Chinese refinery, eight fleet ship ships and four -owned, registered in Hong Kong, Liberia and China, fell under the new US penalty. The ships went under the flags of Panama, San Marino, Barbados and the Comor Islands.
Washington continues to force Iran, trying to limit its oil earnings and forcing him to leave the nuclear program.
Remember, the United States is “ready” for the war in China, after threats from Beijing regarding the corresponding penalties.
China is ready for “any war” as states have lost influence
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.