China's Shandong Port bans US-sanctioned oil vessels, impacting Iranian trade
- Shandong Port Group has banned access to tankers sanctioned by the U.S. Treasury, affecting key oil ports in China.
- The ban includes ports in Qingdao, Rizhao, and Yantai, which are essential for independent Chinese refiners.
- This action could reduce the supply of cheap crude oil to independent refiners in China, particularly Iranian crude.
- The U.S. Has increased sanctions on entities involved in Iranian oil trade and plans to target Russian oil exports next.
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