US EditionChina Blocks US Sanctions on Five Petrochemical Firms
Beijing invoked its blocking statute for the first time, shielding five refiners accused of buying Iranian oil from U.S. financial penalties.
- On Saturday, Beijing's Ministry of Commerce announced China will not comply with US sanctions against five firms accused of purchasing Iranian oil, issuing an injunction to block the measures.
- Seeking to choke off revenue to Tehran, the United States has ramped up sanctions on these refineries, with the Trump administration targeting four of the firms last year.
- Targeted firms include Hengli Petrochemical Refinery and four 'teapot' refineries: Shandong Jincheng Petrochemical Group, Hebei Xinhai Chemical Group, Shouguang Luqing Petrochemical, and Shandong Shengxing Chemical.
- According to the Ministry, these measures 'improperly prohibit or restrict Chinese enterprises' and violate 'international law and the basic norms of international relations.'
- Washington imposed separate sanctions on Friday against Qingdao Haiye Oil Terminal, as President Donald Trump prepares to visit Beijing later this month for talks with Xi Jinping.
95 Articles
95 Articles
Beijing Tells China Firms to Ignore US Sanctions on Refiners
(Bloomberg) — China ordered companies in the country not to comply with US sanctions on five domestic refiners linked to the Iranian oil trade, deploying a blocking measure introduced in 2021 that was aimed at protecting its firms from foreign laws it deemed unjustified.
Beijing. The Chinese government warned yesterday Saturday that it will not abide by the sanctions imposed by the United States against five domestic companies accused of buying oil from Iran, a country from which the Asian giant imports much of its crude oil.
‘Defensive and justified’: China invokes law to block US sanctions, escalates trade tensions
China Daily, a state-affiliated English-language outlet, defended Beijing's decision by describing the move as a ‘defensive and justified response’ to what the government characterises as a clear violation of international law.
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