POLITICS & POLICY MAKING
The United States has imposed sanctions on a major Chinese oil refinery over allegations that it purchased Iranian oil worth millions of dollars.
According to the U.S. Treasury Department, the Hengli Petrochemical refinery in China has been identified as a key buyer of Iranian oil, which allegedly helped provide significant financial support to Iran’s military.
Washington has also announced sanctions on around 40 shipping companies and vessels accused of being part of Iran’s covert oil distribution network.
China has strongly rejected the move, stating that the U.S. is politicizing trade and unfairly targeting Chinese companies through sanctions.
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