The Ministry of Commerce of China has officially mandated national companies not to comply with the sanctions imposed by the United States on five Chinese oil refineries accused of purchasing Iranian oil. The relevant directive prohibits enterprises from recognizing or adhering to the restrictions imposed by the American side.
This is reported by Finway
Under the pressure of sanctions: which companies are affected
The list of enterprises subject to US sanctions includes major oil refining companies such as Hengli Petrochemical (Dalian) Refinery, Shandong Jincheng Petrochemical Group, Hebei Xinhai Chemical Group, Shouguang Luqing Petrochemical, and Shandong Shengxing Chemical. In April last year, the US Treasury Department imposed restrictions on Hengli Petrochemical, accusing it of purchasing billions of dollars worth of Iranian oil. Thus, Washington is trying to further limit Iran’s profits from energy exports.
US sanctions have created a number of difficulties for Chinese oil refineries, including issues with obtaining crude oil and the necessity to sell petroleum products under different brands. According to officials, the additional restrictions complicate the operations of enterprises and force them to seek alternative ways of conducting business.
China’s response and the position of the Ministry of Commerce
The Ministry of Commerce of the People’s Republic of China emphasized that US sanctions contradict international law and violate fundamental norms of international relations. The agency highlighted that the issued directive explicitly prohibits Chinese companies from recognizing and complying with American sanctions regarding oil refining enterprises.
American sanctions violate “international law and basic norms of international relations”.
The administration of US President Donald Trump also imposed economic sanctions last year against a major Chinese oil refinery and about 40 shipping companies and tankers involved in transporting Iranian oil. This was another step in Washington’s fight against the financing of Iran’s energy sector through crude oil exports.