U.S. Imposes New Sanctions on Chinese Company for Transporting Iranian Oil

July 22, 2019

Author: 

Courtney McBride and Ian Talley

Publication: 

The Wall Street Journal

The United States sanctioned Chinese company Zhuhai Zhenrong and one of its executives, Youmin Li, for transporting Iranian crude oil. This action marks the first time that the U.S. Treasury has sanctioned a foreign entity involved in Iran’s oil exports since the United States declined to renew sanctions waivers in May which had previously allowed eight countries to buy Iranian oil.