&imwidth=800&imheight=600&format=webp&quality=medium "US sanctions Chinese oil terminal over Iran trade, warns on Hormuz 'tolls'")
The United States on Friday (May 1) imposed sanctions on a Chinese oil terminal as part of a broader set of new measures targeting Iran, while warning of consequences for vessels paying ‘tolls’ demanded by Tehran. The move comes amid stalled diplomacy following President Donald Trump’s decision to halt US-Israeli attacks on Iran. The announcement also arrives just two weeks before Trump is scheduled to visit China, a major buyer of Iranian oil. Since Trump’s first term, the United States has unilaterally sought to prevent other countries from purchasing oil from Iran, whose leadership remains strongly opposed to both the US and Israel.
The State Department confirmed sanctions on Qingdao Haiye Oil Terminal Co., Ltd., alleging it imported ‘tens of millions of barrels’ of Iranian crude, generating billions in revenue for Tehran. "So long as Iran attempts to generate oil revenues to fund its destabilizing activities, the United States will hold both Iran and all its sanctions-evading partners accountable," the State Department said. The sanctions effectively criminalize transactions involving the United States through the terminal operator, which is part of the major port hub in Qingdao along the Yellow Sea.
Previously, the US imposed similar restrictions on Qingdao Port Haiye Dongjiakou Oil Products Co. in the same region. Global oil prices have surged following US-Israeli strikes, after Iran responded by nearly blocking the Strait of Hormuz, a critical route for global energy shipments. Iran has demanded the lifting of US sanctions and a naval blockade, and has pledged to enforce "tolls" on ships passing through the Strait, drawing strong objections from Trump.
The Treasury Department’s Office of Foreign Assets Control issued a warning about the risks of making payments to Iran for safe passage through the Strait of Hormuz. Additionally, sanctions were imposed on three Iranian currency exchange firms accused of converting oil revenues into usable foreign currencies. US Treasury Secretary Scott Bessent said that authorities would "relentlessly target the regime's ability to generate, move, and repatriate funds, and pursue anyone enabling Tehran's attempts to evade sanctions."
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