What is Hengli Petrochemical's official stance on trading with Iran, and what supporting claim did it make about its crude oil suppliers?

Hengli Petrochemical explicitly stated that it 'has never engaged in any trade with Iran' and added that all its crude oil suppliers 'guaranteed that the origins of the crude oil supplied do not fall within the scope of U.S. sanctions.' This declaration was made in an official stock exchange filing and constitutes the company’s core factual rebuttal to the U.S. sanctions allegations.

According to Hengli Petrochemical, how have the U.S. sanctions impacted its operations, particularly regarding crude oil supply and inventory?

Hengli Petrochemical stated that its crude oil procurement activities 'have not been affected in any way' and that it holds 'sufficient crude oil inventories to meet processing needs for more than three months,' directly asserting operational continuity and supply chain resilience despite the sanctions imposed on its subsidiary.

Hengli Petrochemical Denies Trade with Iran Amidst US Sanctions

Apr 26, 2026

Hengli Petrochemical denied trading with Iran after US sanctions targeted a subsidiary, stating all crude suppliers comply with regulations. The company maintains sufficient inventories and challenges the legal basis of the restrictions.

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Hengli Petrochemical Denies Trade with Iran Amidst US Sanctions

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