U.S. diplomacy

The U.S. Treasury designated the Hebei Xinhai Chemical Group refinery and three companies for operating a terminal at Dongying Port in Shandong province. It said they had purchased or facilitated the delivery of hundreds of millions of dollars worth of Iranian oil. It was the latest independent Chinese refinery targeted by the Trump administration after it re-imposed a policy of "maximum pressure" that aims to cut off Iran's export revenue to pressure Tehran into a deal to curb its nuclear program and stop the funding of militant groups across the Middle East (Read more at Iran Oil Gas).