US Edition
Published • loading... • Updated
China 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.
Insights by Ground AI
Podcasts & Opinions
100 Articles
100 Articles
Beijing blocks US sanctions against five plants accused of buying crude oil from Tehran and feeding Iranian coffers
·Italy
Read Full Article
The US has sanctioned five Chinese refineries for processing Iranian oil, but Beijing has now instructed companies not to comply.
·Düsseldorf, Germany
Read Full Article
China defies U.S. sanctions on refiners, putting banks in crosshairs (FXI:NYSEARCA)
China has issued an injunction blocking U.S. sanctions on five domestic oil refiners accused of purchasing Iranian crude, marking a rare escalation in its response to Washington’s enforcement measures.
·United States
Read Full Article
Coverage Details
Total News Sources100
Leaning Left16Leaning Right25Center8Last UpdatedBias Distribution51% Right
Bias Distribution
- 51% of the sources lean Right
51% Right
L 33%
C 16%
R 51%
Factuality
To view factuality data please Upgrade to Premium
