08:00 - 20.08.2026

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August 20, Fineko/abc.az. Chinese conglomerate Hengli Group, which generates over $100 billion in annual revenue and employs more than 300,000 people, has emerged as a primary importer of Iranian crude oil, according to The Wall Street Journal.

Although the U.S. Treasury sanctioned Hengli's refinery earlier this year, Beijing dismissed the restrictions as "unlawful" and instructed the firm to disregard them. According to U.S. officials and shipping brokers, Hengli has processed at least 5 million barrels of Iranian oil from sanctioned vessels since 2023.