Treasury Sanctions Iran-Linked Chinese Oil Refinery, 40 Vessels

Treasury Secretary Scott Bessent arrives to testify before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington on Feb. 5, 2026. Madalina Kilroy/The Epoch TimesThe Treasury Department on Friday sanctioned a Chinese refinery and 40 shipping firms and vessels found to be providing a lifeline to the Iranian oil economy.The move, shared with The Epoch Times ahead of the announcement, marks the latest measure from the Trump administration to cut off a key revenue source for Iran, which authorities said has enabled Tehran’s “reckless activities throughout the Middle East” and its capacity to threaten American interests.