Gate News message, April 26 — Hengli Petrochemical announced that its subsidiary Hengli Petrochemical (Dalian) Refining & Chemical Co., Ltd. has been added to the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list.
The company clarified that since its establishment, the subsidiary has never engaged in any trade with Iran, and all crude oil suppliers have confirmed that the oil’s origin is not within the scope of U.S. sanctions. Current production operations remain normal with all production units running at high capacity. The company maintains sufficient crude oil reserves to meet refining needs for more than three months, and crude oil procurement operations have not been affected. To ensure procurement security, the company will diversify settlement channels, including conducting transactions in Chinese yuan.
Hengli emphasized that the sanctions apply only to Hengli Refining & Chemical and its subsidiaries, not to other operating entities of the listed company. The company has activated a specialized compliance response mechanism, engaged professional legal teams to assess countermeasures, firmly opposes the unilateral sanctions, and will pursue legal remedies.
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