U.S. Warns Banks of Sanctions Risk Over Chinese Refineries Handling Iranian Oil
The U.S. Treasury has warned banks that they risk sanctions if they engage in transactions with Chinese 'teapot' refineries processing Iranian oil. These refineries, which account for most of China's Iranian oil imports, are seen as supporting Iran's regime and military programs. The warning comes amid heightened U.S.-China and U.S.-Iran tensions.
Topics: China Iran oil trade sanctions teapot refineries U.S. Treasury