US Hits Firms Moving Iranian Oil and Major China Crude Terminal

The latest US sanctions on Iranian oil targeted a unit of a state-owned Chinese major that is a major cog in global crude flows.

The Treasury Department on Thursday blacklisted Rizhao Shihua Crude Oil Terminal Co., among measures targeting more than 50 individuals, firms and vessels involved in exporting Iranian energy in a crackdown on the Beijing-Tehran energy trade. The facility is linked to Sinopec and handles about 9% of China’s crude imports.