The Trump administration has imposed economic sanctions on a major China-based oil refinery and around 40 shipping companies and tankers involved in transporting Iranian oil. The measures target Hengli Petrochemical’s refinery in Dalian, one of China’s largest independent facilities. The US Treasury said the refinery has been receiving Iranian crude since 2023. These sanctions are part of a wider US effort to curb Iran’s oil exports. The sanctions come before a planned meeting between President Donald Trump and Chinese President Xi Jinping. The US continues to maintain a physical blockade on the Strait of Hormuz.