Special to WorldTribune, April 29, 2026 Real World News
By Geostrategy-Direct, April 28, 2026
By Richard Fisher
New Trump Administration sanctions are designed to directly attack China’s economic support for the Iranian terror regime’s ability to build nuclear weapons, arm proxies to wage war against Israel and to launch thousands of missiles against the Gulf States coalition supporting the United States war against Iran.
[caption id="attachment_155197" align="alignleft" width="451"]
The U.S. Navy destroyer USS Pinckney (DDG 91) seen shadowing the tanker M/V Sevan, one of the 19 “shadow fleet” tankers sanctioned by the U.S. Department of Treasury on April 24, 2026. / CENTCOM[/caption]
Intensifying its “Economic Fury” campaign that compliments the U.S. Department of War’s “Operation Epic Fury” striking Iran, on April 24 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) unveiled sanctions targeting China’s (smaller) “teapot refineries” processing $billions worth of Iranian oil along with 40 shipping firms and tankers that constitute China’s “shadow fleet” that flouts existing sanctions to move Iranian oil to China.
A Department of Treasury press release quoted Treasury Secretary Scott Bessent stating:
“Economic Fury is imposing a financial stranglehold on the Iranian regime, hampering its aggression in the Middle East, and helping to curtail its nuclear ambitions…At President Trump’s direction, Treasury will continue to constrict the network of vessels, intermediaries, and buyers Iran relies on to move its oil to global markets. Any person or vessel facilitating these flows — through covert trade and finance — risks exposure to U.S. sanctions.”
China manages to import about 80-90 percent of Iran’s annual oil exports, or about $25 billion a year that funds the majority of Iran’s annual budget, that it uses to oppress the Iranian people internally, and externally to fund war against Israel and now the United States.
The majority of Iranians not beholden to the government, Iranian Revolutionary Guard or military do not benefit from China’s billions in annual oil purchases.
U.S. sanctions now specifically target the Hengli Petrochemical (Dalian) Refinery Company, that Treasury says is:
“China’s second-largest teapot refinery, has emerged as one of Teheran’s most valued customers, purchasing billions of dollars’ worth of its oil products. Since at least 2023, Hengli has received Iranian oil cargoes from a host of sanctioned shadow fleet vessels, including BIG MAG (IMO 9263215), GALE (IMO 9294240), and ARES (IMO 9174397), which alone have delivered over five million barrels of Iranian crude oil.”
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