WASHINGTON: The United States has imposed fresh sanctions on a Chinese oil terminal as part of a broader crackdown on Iran’s oil trade, warning of serious consequences for vessels complying with “tolls” allegedly demanded by Iran.
The US State Department announced sanctions on Qingdao Haiye Oil Terminal Co., Ltd., accusing it of importing “tens of millions of barrels” of Iranian crude, thereby enabling Tehran to generate billions in revenue.
The move comes amid stalled diplomacy following the halt of US-Israeli strikes against Iran under Donald Trump, and just weeks ahead of his planned visit to China—a major buyer of Iranian oil.
Washington has long pursued a policy of restricting Iran’s oil exports, a stance that dates back to Trump’s first term. Officials reiterated that any entities assisting Iran in circumventing sanctions would face strict accountability.
Under the new measures, any transactions involving the United States through the sanctioned terminal will be treated as violations. The terminal operates within the major maritime hub of Qingdao on the Yellow Sea. Similar sanctions were imposed last year on Qingdao Port Haiye Dongjiakou Oil Products Co..
Meanwhile, global oil markets remain volatile, with prices surging after heightened tensions in the region. Iran has threatened to impose “tolls” on ships passing through the Strait of Hormuz, a critical route for global energy shipments, following what it described as retaliatory measures.
In response, the Office of Foreign Assets Control (OFAC) has issued an advisory warning individuals and companies worldwide about the risks of making payments to Iran for safe passage through the strategic waterway.
Iran, for its part, continues to demand an end to US sanctions and naval restrictions, escalating tensions in an already fragile geopolitical environment.
