US sanctions China-based oil terminal over Iran trade

US sanctions China-based oil terminal over Iran trade The US Department of State said it has imposed sanctions on multiple entities, an individual and a vessel involved in the trade of Iran’s petroleum and petrochemical products. Among those targeted is Qingdao Haiye Oil Terminal Co Ltd, which US officials said imported large volumes of Iranian crude through alleged sanctions-evasion practices. The move drew criticism from China, with embassy spokesperson Liu Pengyu saying Beijing opposes “unilateral sanctions and long-arm jurisdiction” without basis in international law.