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The Economic Times

Economy / The Economic Times

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China's Commerce Ministry blocks US sanctions against five refineries

China's Commerce Ministry has blocked U.S. sanctions on five Chinese oil refiners. These companies were accused of purchasing oil from Iran. The U.S. Treasury had previously imposed sanctions on Hengli Petrochemical and four other refineries. China states these sanctions violate international law. The injunction prevents the U.S. from recognizing or implementing these sanctions.

2 May 2026 8:26 pm