Hengli Shares Plunge 10% as US Sanctions Escalate Iran Oil Crackdown

Hengli Petrochemical shares tumbled about 10% on April 27, 2026, after U.S. Treasury sanctions named it a top buyer of Iranian crude, cutting access to U.S. finance and business. This builds on April 24 actions targeting Hengli, ~40 shipping entities, 19 shadow fleet vessels under the 'Economic Fury' campaign, plus U.S. tanker boardings amid full Kharg Island storage forcing Iranian well shutdowns. China absorbed over 80% of Iran's 2025 oil exports, creating supply frictions bullish for oil prices with heightened Strait of Hormuz volatility.