Hengli Petrochemical (Dalian) Refinery

Hengli Petrochemical (Dalian) Refinery is a significant oil refining facility located on Changxing Island in Dalian, Liaoning province, China. It is recognized as China's second-largest refinery. The refinery has recently become newsworthy due to sanctions imposed by the United States Treasury Department. The US action targets Hengli for allegedly purchasing hundreds of millions of dollars worth of oil from Iran, which the US claims has generated substantial revenue for Iran's military. In response, China has invoked its 2021 anti-sanctions law, ordering its citizens and companies not to comply with the US sanctions against Hengli and four other Chinese refineries. This situation highlights the geopolitical tensions surrounding international oil trade and the enforcement of sanctions, making Hengli Petrochemical a focal point in the ongoing discussions regarding Iran's oil exports and global trade policies.