China Orders Domestic Refineries to Ignore US Sanctions

May 3, 2026 - 12:00
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China Orders Domestic Refineries to Ignore US Sanctions

China’s Ministry of Commerce has instructed domestic companies not to comply with US sanctions targeting refiners allegedly linked to the Iranian oil trade. Late last month, the US Treasury warned banks against dealing with so-called “teapot” refineries, privately owned companies which it said account for the majority of the oil China buys from Iran. “This revenue ultimately benefits […]

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