US slaps Chinese firm for importing Iranian oil

Posted on Monday, July 22nd, 2019 By The Associated Press

WASHINGTON (AP) — The Trump administration is penalizing a Chinese company and its top executive for violating U.S. restrictions on dealing with Iran.

Secretary of State Mike Pompeo says the U.S. is imposing sanctions on Zhuhai Zhenrong (ZHOO-hi ZHEN-wrong) Limited and its chief executive for violating restrictions on Iran's oil industry.

Pompeo announced the measures Monday in a speech in Orlando to the VFW.

The U.S. sanctions are part of the Trump administration's effort to increase pressure on Iran by starving its economy. Oil exports are Iran's largest source of foreign income and the U.S. campaign has raised tensions between the two countries.

China has continued to import Iranian oil as other countries have stopped out of fear of U.S. penalties.

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