Revolutionary Guards' Lifeline Exposed - at a Not-So-Surprising Target

The article reveals the role of Chinese conglomerate Hengli Group as a lifeline for the Iranian regime amid heavy sanctions. According to a Wall Street Journal report, China's Iranian oil purchases surpassed the $30 billion mark in the past year. The method involves a 'shadow fleet' of tankers that disable tracking systems. Hengli denies the allegations, and China's Ministry of Commerce has ordered non-compliance with sanctions.

The article reveals the role of Hengli Group, a Chinese industrial giant employing over 300,000 workers, as a lifeline for the Iranian regime amid heavy sanctions. According to a Wall Street Journal report, China's Iranian oil purchases surpassed the $30 billion mark in the past year, effectively funding the ayatollahs' regime. Unlike Chinese state-owned companies, independent refineries have little need for dollars, so they have less to lose if blacklisted. The method is described via a 'shadow fleet': ships like the tanker Seeker 8 load oil in Iran and disable their tracking systems as they approach Hengli's facilities on Changxing Island. Hengli Group denies the allegations, claiming it has never traded with Iran. China's Ministry of Commerce publicly ordered in May not to comply with US sanctions. The company's founder, Chen Jianhua, holds a personal fortune of about $20 billion, and its shipbuilding arm closed deals worth $2 billion with European clients.