The US has sanctioned 10 Chinese shipping firms and 8 tankers for violating restrictions on Iranian oil transport, escalating tensions with Beijing.
Bangkok's Asia News Network reported that the US State Department has sanctioned 10 Chinese shipping companies and eight tankers accused of transporting Iranian oil in violation of Washington's restrictions.
The sanctions freeze the firms' assets in the US and bar American companies and individuals from doing business with them. The companies are based in Hong Kong and mainland China.
China's Foreign Ministry condemned the move, stating it opposes unilateral sanctions and 'long-arm jurisdiction' without an international legal basis. Beijing urged Washington to halt what it called wrongful practices.
Anthony Moretti, an associate professor at Robert Morris University, told China Daily that the US administration's repeated bans and blocks project toughness but lack a coherent strategy. He noted that international opinion of Washington has soured as a result.
Two Iranian insurers - Persian Gulf Marine Insurance Company and Hormuz Safe Marine Services Authority - were also sanctioned, accused of forcing vessels to purchase cover for safe passage through the Strait of Hormuz.
Before hostilities began on February 28, about 20 percent of global oil shipments passed through the strait. That flow has now slowed sharply. More than 100 tankers have been sanctioned by the Trump administration for allegedly attempting to break the blockade on Iranian ports.
