Hengli Petrochemical denies trade with Iran

Hengli Petrochemical , one of ​China’s largest ​independent refiners, denied trade dealings with Iran after the United States imposed sanctions on one of its ⁠subsidiaries for allegedly buying Iranian ⁠oil. Hengli “has never engaged in any trade with Iran,” and all its crude oil suppliers “guaranteed ​that the ⁠origins of the crude ​oil supplied do not fall within the scope ​of US sanctions,” the company said in a stock exchange filing on Sunday. The company has sufficient crude oil inventories to meet processing ​needs for more than three ​months, ‌and ⁠its crude oil procurement activities have not been affected ​in any way, it said. — Reuters