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Oil trade: Beijing bans companies from complying with US sanctions

Beijing has instructed companies not to recognize or enforce US sanctions against five Chinese refineries in connection with Iranian oil trade. International companies operating in China could now find themselves caught in the crossfire.

Amelie Richter
03. May 2026
Hengli
The Hengli Group’s petrochemical industrial park on Changxing Island in Dalian. (Imago)

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Last updated: 03. May 2026