Beijing Flip-Flops, Asks Banks To Pause Loans To Sanctioned Refiners Days After Ordering Them To Ignore Sanctions

Over the weekend, we reported that in what some called a “watershed moment”, Beijing ordered Chinese companies not to comply with US sanctions on five domestic refiners linked to the Iranian oil trade, deploying for the first time a blocking measure introduced in 2021 that was aimed at protecting its firms from foreign laws it deemed unjustified.…

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