The United States has taken action under National Security Presidential Memorandum/NSPM-2, President Trump’s maximum pressure campaign on Iran, imposing sanctions on entities and vessels involved in Iranian oil sales. This marks the fourth round of sanctions targeting Iranian oil sales to stop the flow of revenue the regime uses to fund its destabilizing activities.
The Department of State is designating HUAYING HUIZHOU DAYA BAY PETROCHEMICAL TERMINAL STORAGE CO., LTD, a China-based petroleum products storage terminal owned and operated by HUAYING PETROCHEMICAL, pursuant to section 3(a)(ii) of Executive Order (E.O.) 13846. The entity knowingly engaged in a significant transaction for the acquisition of crude oil from Iran in late January 2025.
According to officials, the U.S.-designated tanker, formerly SPIRIT OF CASPER, also known as NICHOLA, offloaded approximately one million barrels of Iranian-origin crude oil at the Huaying Daya Bay terminal. This is not the first time HUAYING PETROCHEMICAL has received shipments from Iran; since March 2021, the terminal has received at least nine shipments of Iranian petroleum.
The sanctions are aimed at disrupting Iran’s ability to maintain revenues from its energy exports and fuel its destabilizing activities in the region. The Department of Treasury is also imposing sanctions on 19 entities and vessels pursuant to E.O. 13902, targeting Iran’s petroleum and petrochemical sectors.
As a result of today’s sanctions-related actions, all property and interests in property of the designated persons described above that are in the United States or in possession or control of U.S. persons are blocked and must be reported to the Department of Treasury’s Office of Foreign Assets Control (OFAC). Additionally, all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited unless authorized by a general or specific license issued by OFAC.
The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. Petitions for removal from the SDN List may be sent to OFAC.Reconsideration@treasury.gov.