Following the U.S. sanctions against China’s “teapot” oil refineries for buying sanctioned Iranian oil, the Chinese communist regime’s Ministry of Commerce issued a blocking statute against the sanctions.
Analysts who spoke to The Epoch Times indicated that although it’s the first time that Beijing has used the law to counter U.S. sanctions, its effects will be limited, and the Chinese regime has few options to counter the sanctions.
As part of the U.S. government’s ramped-up efforts to cut off the Iranian regime’s oil revenue, the Treasury Department announced on April 24 sanctions against Chinese teapot refiner Hengli Petrochemical (Dalian) Refining Co., as well as approximately 40 shipping companies and vessels belonging to Iran’s “shadow fleet.”…
Beijing’s Bid to Block US Sanctions on Chinese Refineries Will Have Limited Impact, Analysts Say
