Hengli Petrochemical Denies Iran Trade Allegations

Hengli Petrochemical, one of China’s top independent refiners, has categorically denied any trade interactions with Iran, following U.S. sanctions imposed on one of its subsidiaries accused of purchasing Iranian oil.

The firm stated in a stock exchange filing on Sunday that it has “never engaged in any trade with Iran,” and emphasized that all its crude oil suppliers ensured the oil’s origin did not violate U.S.…

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