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Thursday, April 10, 2025

US targets China oil storage terminal in new Iran-related sanctions

 The United States imposed sanctions on Iran's oil trading networks on Thursday, including on a China-based crude oil storage terminal linked via a pipeline to an independent refinery.

The Trump administration also designated India- and United Arab Emirates-based groups whose tankers have transported Iranian oil.

The U.S. imposed sanctions on Guangsha Zhoushan Energy Group Co, LTD that it said operates a crude oil and petroleum products terminal on Huangzeshan Island in Zhoushan, China. The U.S. State Department said the terminal is directly connected through the Huangzeshan–Yushan Under Sea Oil Pipeline to a nearby independent refinery known as a "teapot" plant.

The terminal knowingly engaged in the purchase, acquisition, sale, transport, or marketing of oil from Iran, it said.

It was Washington's latest round of sanctions on Iran since President Donald Trump said in February he was re-imposing a "maximum pressure" campaign including efforts to drive down the country's oil exports to zero in order to prevent it from getting a nuclear weapon.

The sanctions came after Secretary of State Marco Rubio said the U.S. will hold direct talks with Iran on Saturday in Oman. Trump said on Monday Iran would be in "great danger" if the talks were unsuccessful.

https://www.msn.com/en-us/money/markets/us-targets-china-oil-storage-terminal-in-new-iran-related-sanctions/ar-AA1CH70f

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