US sanctions fourth Chinese port operator, 19 other entities for facilitating Iranian oil exports

The US State Department said July 30 it would impose sanctions on 20 entities it believes are engaged in trading Iranian oil and petrochemical products, including a fourth Chinese oil terminal.

"The Iranian regime continues to fuel conflict in the Middle East to fund its destabilizing activities," the State Department said in a statement. "Today, the United States is taking action to stem the flow of revenue that the regime uses to support terrorism abroad, as well as to oppress its own people."

Among the sanctioned entities is the Zhoushan Jinrun Petroleum Transfer Co., a China-operated oil terminal located within the greater Zhoushan port area.

Zhoushan Jinrun is being sanctioned for "knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran," the State Department said, after it allegedly facilitated a port call of the US-sanctioned tanker Rani as well as received six Iranian-origin crude cargoes.

Since US President Donald Trump returned to office in January, the US has steadily ratcheted up sanctions on tankers and companies allegedly involved in facilitating Iranian exports.

The US sanctioned three firms for operating a port terminal at Dongying Port on May 8. On April 10, the US sanctioned a petroleum storage terminal, Guangsha Zhoushan, which is connected to a major refinery complex. In March, the US sanctioned Huaying Huizhou Daya Bay Petrochemical Terminal Storage.

This latest round of sanctions also targets five vessel management companies and a petroleum wholesaler that have allegedly been involved in the transport and purchase of Iranian oil or petrochemical products. In total, 10 specific vessels were identified as blocked property: Tifani, Tonda Source, Seaturbo, Trugen, Seabass, Seahaker, Zeal, Molly, Sofia, and Courage 7.

Volume-wise, Iran's total oil exports have been largely unaffected by US sanctions and have stayed at 1.5 million-1.6 million b/d this year, according to S&P Global Commodities at Sea data. Chinese independent refiners, the top Iranian crude buyers, imported 1.47 million b/d of Iranian crude in the first half of 2025, based on Platts data.

But CAS data also shows the amount of Iranian crude in floating storage globally rose from 42 million barrels in early January to its year-to-date high of 73.7 million barrels on July 8, before easing back to 63.1 million barrels on July 27 -- mainly driven by the changes in Southeast Asian volumes after Malaysian authorities promised to clamp down on ship-to-ship transfers.