US Sanctions Iran Exchanges, China Terminal on Oil Purchases
An oil facility in the Khark Island, on the shore of the Gulf.
Photographer: AFP/Getty ImagesThe Trump administration sanctioned three Iranian currency exchanges and a Chinese oil terminal on Friday, as the US adds to pressure on Tehran to end the war and reopen the Strait of Hormuz.
The Treasury Department announced on Friday that it blacklisted firms helping launder billions of dollars in foreign currencies, including converting oil sales made primarily with Chinese yuan into other legal tender. In a separate statement, Treasury unveiled sanctions on China-based Qingdao Haiye Oil Terminal Co. China is the biggest buyer of Iranian oil.