U.S. Escalates Pressure on China’s Independent Refiners in Bid to Cut Iran’s Oil Lifeline
The United States has intensified efforts to sever a major channel of Iranian oil revenue by focusing on privately owned Chinese refiners known as 'teapots' and the shipping firms that move their cargo. U.S. sanctions recently named a unit of Hengli Petrochemical and about 40 related shipping companies, accusing them of purchasing billions of dolla…