U.S. media: China has recently invoked its 2021 "Blocking Statute," formally instructing Chinese companies to ignore U.S. sanctions on Iranian oil, with the explicit scope including several Chinese refining enterprises named by the United States for purchasing crude oil from Iran, particularly independent refiners commonly known as "teapot refineries."
The Chinese Blocking Statute also allows Chinese companies to seek compensation in domestic courts from banks, insurance companies, or shipping firms that have severed ties due to compliance with U.S. sanctions, placing multinational corporations in a dilemma—complying with U.S. sanctions risks violating Chinese directives, and vice versa, each path carrying potential consequences.
Original source: toutiao.com/article/1864541090316295/
Disclaimer: The views expressed in this article are solely those of the author(s).