The U.S. Treasury's recent sanctions target 35 individuals and entities involved in Iran's shadow banking sector, which plays a crucial role in facilitating sanctions evasion and terrorism sponsorship. Treasury Secretary Scott Bessent highlighted that these sanctions aim to expose and disrupt the financial mechanisms Tehran uses to receive payments for oil and other commodities, thereby reducing its revenue. This move is particularly significant as it threatens banks that engage with Chinese refineries importing Iranian oil, imposing severe penalties for their involvement in these transactions.
INTERNATIONALPublished 25 Apr 2026 • Published 4 days ago • Updated 1 day ago
Trump Administration Sanctions China's Hengli Refinery for Oil
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The U.S. Treasury has sanctioned 35 individuals and entities linked to Iran's shadow banking sector to disrupt Tehran's mechanisms for receiving payments for oil and commodities, aiming to reduce its revenue and military funding. This is part of a broader strategy to exert economic pressure on Iran.
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