China orders firms not to comply with US sanctions on five refineries
China has ordered its citizens and companies not to comply with United States sanctions targeting five Chinese oil refineries, in the first known use of its 2021 anti-sanctions law.The Ministry of Commerce issued what it called a "prohibition order" after the US Treasury Department last month announced sanctions on Hengli Petrochemical (Dalian) and four other refineries accused of handling Iranian oil.Beijing said the sanctions should "not be recognised, enforced or complied with", and argued that they improperly restricted normal trade and business activities.It said the order was intended to protect China's national sovereignty, security and development interests.The move is significant... [Continue Reading]
360LiveNews | 07 May 2026 12:00 LONDON
