"Teapot refinery purchases of Iranian oil provide the primary economic lifeline for the Iranian regime, the world's leading state sponsor of terror," Treasury Secretary Scott Bessent said.

The refinery the Treasury targeted for sanctions is China-based Shandong Shouguang Luqing Petrochemical Co., Ltd. "So-called 'teapot' refinery purchases of Iranian oil provide the primary economic ...

WASHINGTON - The US on March 20 issued new Iran-related sanctions, targeting entities including for the first time a Chinese “teapot”, or independent refinery, and vessels that supplied crude ...