What is the effect of new US sanctions on Iran’s oil and petrochemical industry?

According to Energy Press, the Office of Assets Control of the US Treasury Department announced on Friday that it has placed 16 institutions and 23 ships on its sanctions list in this regard. At the same time as this news was published, Bloomberg wrote in a report that “Iran provides its oil at a lower discount than Brent crude oil to Chinese buyers, and Iranian sellers intend to sell their oil at a higher price to independent Chinese refineries.”
According to this American news agency, China’s private refineries are the main buyers of Iran’s sanctioned oil, and the two sides have an acceptable business relationship in this regard. Iran sells its crude oil, which has hardly any buyers in the world due to sanctions, to these refineries. China remains a buyer of Iran’s oil after re-imposing sanctions on Iran’s oil in 2018 and has declared that it does not support unilateral US sanctions.
Morteza Behrouzifar, a member of the academic staff of the Institute of International Energy Studies, said about the new sanctions against Iran’s oil and petrochemicals: the sanctions imposed against Iran’s oil in the past few days are mostly symbolic; That is, its message is that due to Iran’s missile attack on the Zionist regime, it will convey to the Israelis that the United States supports them because the United States has applied all sanctions measures against Iran and has not left any loopholes to impose sanctions again.
So far, Iran has sold oil to small Chinese companies by bypassing the sanctions, and the same routine will continue in the future, unless the US wants to stop the same amount of exports, in which case it will have to put additional pressure on China. In any case, the new action of the United States regarding the embargo on Iranian oil is more symbolic and it is a matter to show Israel that it is by their side and supports them. There is a lot to add to it, because previously all oil tankers, exports and insurance of Iran’s oil shipments have been sanctioned, and the new sanction is symbolic, and Chinese companies that have no connection with the world will continue to be customers of Iran’s cheap and discounted oil.