China warns US over sanctions ‘misuse’ after oil refiner Hengli hit

Iran was Shares plunge as teapot refinery accused of enabling Iran’s military by buying its crude China’s Hengli Petrochemical operates a so-called “teapot” refinery on Changxing island in Dalian, Liaoning province. The U.S. Department of Treasury believes the plant is a major refiner of Iranian crude oil.  © Reuters TOKYO — The Shanghai-listed shares of Hengli Petrochemical nose-dived on Monday after the U.S. sanctioned its refinery unit over alleged dealings with Iran — drawing criticism from Beijing less than three weeks ahead of a planned superpower summit.