U.S. Sanctions on Hengli Signal Sharper Focus on Iran Oil Supply Chains
The U.S. Treasury on Friday placed sanctions on Hengli Petrochemical (Dalian) Refinery, accusing the firm of purchasing billions of dollars of Iranian crude. The parent company denies the allegations and is contesting the measures. The designation targets a 400,000 barrel-per-day refinery complex in Dalian and follows recent U.S. warnings and a lap…