US sanctions Chinese refinery, 40 shipping firms for Iran oil

The Trump administration is imposing economic sanctions on a major China-based oil refinery, along with around 40 shipping companies and tankers involved in the transport of Iranian oil.

The move makes good on the Trump administration’s threat to impose secondary sanctions on companies and countries that do business with Iran. It’s also part of a ramped-up campaign to cut off Iran’s key source of revenue – its oil exports, News.Az reports, citing Al Jazeera.

The US this month imposed a physical blockade on the Strait of Hormuz, the Gulf waterway crucial to global energy supplies.

The sanctions come just a few weeks before President Trump and China’s leader Xi Jinping are due to meet in Beijing.

News.Az 

By Ulviyya Salmanli