CHINA’S Ministry of Commerce on Saturday issued a blocking ban prohibiting any recognition, enforcement or compliance with US sanctions imposed on five Chinese companies on the grounds of their alleged involvement in Iranian petroleum transactions.
The five companies are Hengli Petrochemical (Dalian) Refining Co, Ltd, Shandong Shouguang Luqing Petrochemical Co, Ltd, Shandong Jincheng Petrochemical Group Co, Ltd, Hebei Xinhai Chemical Group Co, Ltd, and Shandong Shengxing Chemical Co, Ltd.
According to the MOC announcement, the US measures include placing the companies on the Specially Designated Nationals List, freezing their assets, and banning transactions with them.
Since 2025, the United States, under its executive orders targeting other countries, has imposed sanctions on these Chinese firms for their alleged involvement in petroleum transactions with Iran, an MOC spokesperson, in response to the ban, said on Saturday. The US measures, the spokesperson said, improperly prohibit or restrict normal economic and trade activities between Chinese companies and third countries as well as their citizens, legal persons or other organizations, in violation of international law and basic norms of international relations. — Xinhua
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