Treasury Secretary Scott Bessent arrives to testify before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington on Feb. 5, 2026. Madalina Kilroy/The Epoch Times
The Treasury Department on Friday sanctioned a Chinese refinery and 40 shipping firms and vessels found to be providing a lifeline to the Iranian oil economy.
The move, shared with The Epoch Times ahead of the announcement, marks the latest measure from the Trump administration to cut off a key revenue source for Iran, which authorities said has enabled Tehran’s “reckless activities throughout the Middle East” and its capacity to threaten American interests.
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