US imposes sanctions on China-based refinery and 40 shippers of Iranian oil

By AP 24 April 2026, 9:24 pm

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The Trump administration is placing US economic sanctions on a major China-based oil refinery and roughly 40 shipping companies and tankers involved in transporting Iranian oil.

The move, announced today and first reported by The Associated Press, makes good on the Trump administration’s threat to impose secondary sanctions on companies and countries that do business with Iran. It’s also part of the Republican administration’s overall ramped-up campaign to cut off Iran’s key source of revenue — its oil exports.

These sanctions come just a few weeks before President Donald Trump and China’s Xi Jinping are due to meet in China.