By Tyler Losier, Energy Reporter, Oil & Gas 360

Secretary of State Mike Pompeo announces sanctions for Zhuhai Zhenrong and its chief executive
The United States government will be imposing sanctions on Zhuhai Zhenrong Company Limited, a state-run oil company in China, and its chief executive for purchasing crude oil from Iran.

On Monday, Secretary of State Mike Pompeo announced in a speech at the Veterans of Foreign Wars convention that Zhuhai Zhenrong and its top executive, Youmin Li, will be blocked from banking or completing property transactions in the U.S. for knowingly making “significant” purchases of Iranian crude on May 2. Li will also be barred from entering the U.S.

“They violated U.S. law,” Pompeo told the crow...

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