The Hengli Petrochemicals oil refinery in the port city of Dalian in northeastern China has a capacity of approximately 400,000 barrels of crude oil per day, making it one of the largest independent refineries in China.
According to the US Treasury Department, the refinery has been receiving shipments of Iranian crude oil since 2023 and has generated hundreds of millions of dollars for the Iranian military.
The sanctions target anyone who does business with the companies in question and were announced just a few weeks before the planned meeting in China between President Donald Trump and Chinese President Xi Jinping.
