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Chinese 'teapot' oil refinery, chief executive sanctioned by US

( March 20, 2025, 14:35 GMT | Official Statement) -- MLex Summary: The US Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned a “teapot” oil refinery and its chief executive officer for purchasing and refining hundreds of millions of dollars’ worth of Iranian crude oil, including from vessels linked to the Houthis in Yemen and the Iranian Ministry of Defense of Armed Forces Logistics. OFAC is additionally imposing sanctions on 19 entities and vessels responsible for shipping millions of barrels of Iranian oil, comprising part of Iran’s “shadow fleet” of tankers supplying teapot refineries.Statement follows below:...

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