US sanctions companies alleged to be shipping Iranian oil to China

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The story "US sanctions companies alleged to be shipping Iranian oil to China" was covered 1 days ago by Financial Times, a news publisher based in United States.

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Financial Times 1d ago

US sanctions companies alleged to be shipping Iranian oil to China - Financial Times

Quick Summary:

The moves marked a renewed effort by the US to crack down on Iranian oil exports following criticism that the Biden administration did not take sufficiently strong action.

But he added: “If Iran’s leadership rejects this olive branch . . . we will have no choice but to inflict massive maximum pressure [and] drive Iranian oil exports to zero.

It said the companies were set up in China and operated there, but their commercial activities were controlled by Sepehr Energy and its officials, at least one of whom has been sanctioned by the US.