US sanctions China-based oil refinery and 40 shippers over Iran oil

The advocacy group United Against Nuclear Iran said in February 2025 that Hengli is one of dozens of Chinese buyers of Iranian oil. China is the biggest buyer of Iranian oil, importing 80% to 90% of Iranian oil before the U.S.-Israeli war with Iran broke out, though the crude — transported by a shadow fleet of vessels — often has its origin obscured but arrives in China as oil from countries such as Malaysia. Smaller refineries, known as teapot refineries, typically are the buyers of Iranian oil.