WASHINGTON— On April 25, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned China-based independent teapot refinery Hengli Petrochemical (Dalian) Refinery Co., Ltd. (Hengli). China-based independent teapot refineries continue to play a vital role in sustaining Iran’s oil economy, and Hengli is one of Iran’s largest customers for crude oil and other petroleum products, having purchased billions of dollars’ worth of Iranian petroleum. Additionally, OFAC is targeting approximately 40 shipping firms and vessels that operate as part of Iran’s shadow fleet, whose transportation of petroleum and petrochemicals provides a financial lifeline to Iran’s unstable regime. Economic Fury continues to disrupt Iran’s ability to generate the revenue that enables Tehran’s reckless activities throughout the Middle East and its capacity to threaten American interests.
“Economic Fury is imposing a financial stranglehold on the Iranian regime, hampering its aggression in the Middle East, and helping to curtail its nuclear ambitions,” said Secretary of the Treasury Scott Bessent. “At President Trump’s direction, Treasury will continue to constrict the network of vessels, intermediaries, and buyers Iran relies on to move its oil to global markets. Any person or vessel facilitating these flows—through covert trade and finance—risks exposure to U.S. sanctions.”
Today’s action is being taken pursuant to Executive Order (E.O.) 13902, which targets persons operating in Iran’s petroleum and petrochemical sectors and is in furtherance of the President’s National Security Presidential Memorandum 2 (NSPM-2), which undergirds Treasury’s continued campaign of maximum economic pressure against Iran’s shadow banking, money laundering, and sanctions evasion networks. Since February 2025, OFAC has sanctioned over 1,000 Iran-related persons, vessels, and aircraft as part of this campaign.
China’s independent oil refineries, colloquially known as “teapots,” purchase the majority of Iran’s crude oil, providing a vital source of revenue to the Iranian regime and its armed forces. Hengli Petrochemical (Dalian) Refinery Co., Ltd., China’s second-largest teapot refinery, has emerged as one of Tehran’s most valued customers, purchasing billions of dollars’ worth of its oil products. Since at least 2023, Hengli has received Iranian oil cargoes from a host of sanctioned shadow fleet vessels, including BIG MAG (IMO 9263215), GALE (IMO 9294240), and ARES (IMO 9174397), which alone have delivered over five million barrels of Iranian crude oil.
Hengli has played an outsized role in purchasing crude oil from Iran’s armed forces. Since at least 2023, Hengli has received Iranian crude oil shipments overseen by the oil sales arm of Iran’s Armed Forces General Staff, Sepehr Energy Jahan Nama Pars Company, generating hundreds of millions of dollars in revenue for the Iranian military.
Treasury has previously targeted four teapot refineries as part of President Trump’s maximum pressure campaign.
The Iranian shadow fleet serves as the critical link between Iranian oil producers and end users in Asia. Today, OFAC is sanctioning 19 shadow fleet vessels responsible for transporting billions of dollars’ worth of Iranian crude oil, liquified petroleum gas (LPG), and other petroleum and petrochemical products to foreign markets, further narrowing the Iranian regime’s options for sustaining its energy sales, the lifeblood of its economy. The following vessels are being added to OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List) as blocked property of their designated owner or manager:
The following persons are being designated pursuant to E.O. 13902 for operating in the petroleum or petrochemical sectors of the Iranian economy:
All property and interests in property of the persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. Unless authorized by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked persons.
Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations on a strict liability basis. OFAC’s Economic Sanctions Enforcement Guidelines provide more information regarding OFAC’s enforcement of U.S. economic sanctions. In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities involving designated or otherwise blocked persons. The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person. Non-U.S. persons are also prohibited from causing or conspiring to cause U.S. persons to wittingly or unwittingly violate U.S. sanctions, as well as engaging in conduct that evades U.S. sanctions. Individuals located in the U.S. or abroad who provide information about sanctions violations to FinCEN’s whistleblower incentive program may be eligible for awards if the information they provide leads to a successful enforcement action that results in monetary penalties exceeding $1,000,000.
The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the SDN List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. For information concerning the process for seeking removal from an OFAC list, including the SDN List, or to submit a request, please refer to OFAC’s guidance on Filing a Petition for Removal from an OFAC List.
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The Michelin brothers created the guide, which included information like maps, car mechanics listings, hotels and petrol stations across France to spur demand.
The guide began to award stars to fine dining restaurants in 1926.
At first, they offered just one star, the concept was expanded in 1931 to include one, two and three stars. One star establishments represent a “very good restaurant in its category”. Two honour “excellent cooking, worth a detour” and three reward “exceptional cuisine, worth a
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