US Imposes New Sanctions to Target Iran's Financial Lifeline, Including Chinese Oil Terminal
The United States today imposed new sanctions on three Iranian foreign exchange companies to disrupt Tehran's "financial lifeline" in the Middle East conflict, and also sanctioned a Chinese oil terminal as part of new measures against Iran, warning vessels of consequences if they pay Iran's demanded "tolls."
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- 📰 Published: May 2, 2026 at 05:51
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WASHINGTON (Central News Agency) — The United States today imposed new sanctions on three Iranian foreign exchange companies, seeking to cut off Tehran's "financial lifeline" in the Middle East war, and also sanctioned a Chinese oil terminal as part of new measures targeting Iran, while warning vessels that paying Iran's demanded "tolls" would face consequences.
According to Agence France-Presse, in taking action against these foreign exchange companies, the US Treasury Department stated that Iran's "shadow banking network processes tens of billions of dollars in trade annually, most of which comes from Iran's overseas sales of oil and petrochemical products."
These new measures come at a diplomatic stalemate after Trump paused US and Israeli attacks on Iran. Furthermore, these measures were announced just two weeks before Trump's upcoming visit to China, a major buyer of Iranian oil.
The US State Department announced sanctions on "Qingdao Haian Oil Terminal Co., Ltd.," stating that the company has imported "tens of millions of barrels" of Iranian crude oil, helping Iran generate billions of dollars in revenue.
The US State Department pointed out, "As long as Iran attempts to fund destabilizing activities through oil revenues, the United States will hold Iran and all partners assisting it in evading sanctions accountable."
These sanctions will make transactions involving the terminal operator and related to the US a criminal offense. This terminal belongs to Qingdao Port, a key shipping hub in the Yellow Sea.
Last year, the US also imposed similar sanctions on "Qingdao Port Haian Dongjiakou Oil Products Co., Ltd." in the same region.
After the US and Israel launched attacks on Iran, Iran almost blockaded the Strait of Hormuz, leading to a significant rise in global oil prices.
Iran demanded that the US lift sanctions and stop the naval blockade, vowing to levy "tolls" on vessels passing through the Strait of Hormuz, which Trump strongly opposed.
The Office of Foreign Assets Control (OFAC) under the US Treasury Department issued a warning, reminding individuals inside and outside the United States that paying the Iranian government for safe passage through this important shipping lane could expose them to sanctions risks.
US Treasury Secretary Scott Bessent stated that his department will "relentlessly continue to combat the Iranian regime's ability to generate, transfer, and repatriate funds, and pursue anyone assisting Tehran in evading sanctions." (Compiled by Hsu Rui-cheng) 1150502
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According to Agence France-Presse, in taking action against these foreign exchange companies, the US Treasury Department stated that Iran's "shadow banking network processes tens of billions of dollars in trade annually, most of which comes from Iran's overseas sales of oil and petrochemical products."
These new measures come at a diplomatic stalemate after Trump paused US and Israeli attacks on Iran. Furthermore, these measures were announced just two weeks before Trump's upcoming visit to China, a major buyer of Iranian oil.
The US State Department announced sanctions on "Qingdao Haian Oil Terminal Co., Ltd.," stating that the company has imported "tens of millions of barrels" of Iranian crude oil, helping Iran generate billions of dollars in revenue.
The US State Department pointed out, "As long as Iran attempts to fund destabilizing activities through oil revenues, the United States will hold Iran and all partners assisting it in evading sanctions accountable."
These sanctions will make transactions involving the terminal operator and related to the US a criminal offense. This terminal belongs to Qingdao Port, a key shipping hub in the Yellow Sea.
Last year, the US also imposed similar sanctions on "Qingdao Port Haian Dongjiakou Oil Products Co., Ltd." in the same region.
After the US and Israel launched attacks on Iran, Iran almost blockaded the Strait of Hormuz, leading to a significant rise in global oil prices.
Iran demanded that the US lift sanctions and stop the naval blockade, vowing to levy "tolls" on vessels passing through the Strait of Hormuz, which Trump strongly opposed.
The Office of Foreign Assets Control (OFAC) under the US Treasury Department issued a warning, reminding individuals inside and outside the United States that paying the Iranian government for safe passage through this important shipping lane could expose them to sanctions risks.
US Treasury Secretary Scott Bessent stated that his department will "relentlessly continue to combat the Iranian regime's ability to generate, transfer, and repatriate funds, and pursue anyone assisting Tehran in evading sanctions." (Compiled by Hsu Rui-cheng) 1150502
Choose to stand with facts, every sponsorship you provide is a force to protect press freedom.
Download the Central News Agency's "First-hand News" APP to stay updated with the latest news.
The text, images, and audio-visual content of this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.