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Washington. The United States on Friday announced sanctions targeting a China-based petroleum terminal operator, its president and two vessel management firms for importing sanctioned Iranian crude and engaging in deceptive maritime trade practices. The State Department said it designated Qingdao Haiye Oil Terminal Co., Ltd., its president Xingchun Li, UK-based Thriving Times International and Hong Kong-based Onboard Ship Management Limited, along with several other entities, an individual and a vessel involved in the trade. The department said the terminal had imported tens of millions of barrels of sanctioned Iranian crude since February last year and described the measures as efforts to disrupt Iran’s illicit oil trade and the revenue streams that fund terrorism and regional destabilization. Washington. Separately, the Treasury Department issued a maritime industry alert warning that paying "tolls" to the Iranian regime for safe passage through the Strait of Hormuz may result in sanctions exposure. The Treasury also designated three Iranian foreign currency exchange houses and their associated front companies for facilitating billions of dollars in foreign currency transactions each year. The designated entities are Pedram Pirouzan and Associates Partnership Company (Opal Exchange), Nasser Ghasemi Rad and Associates Partnership Company (Radin Exchange), and Tahayyori and Associates Partnership Company, commonly known as Tahayyori Guarantee Society or Arz Iran Exchange.

Prepared by Lauren Mitchell and reviewed by editorial team.