To understand how effective U.S. sanctions on Russian oil could be, look no further than the already-sanctioned Arctic gas project central to Moscow’s export ambitions. PREMIUM The Beihai LNG Terminal in southern China in 2017. In multiple rounds of blacklisting, the Biden administration crippled the logistics, shipping and financing ecosystem around the natural-gas facility known…
The United States on Thursday announced sanctions on around 100 individuals, entities, and vessels, including Chinese companies, accused of facilitating Iran’s oil and petrochemical exports, the Treasury Department said. Among those targeted were Shandong Jincheng Petrochemical Group Co, described as an independent “teapot” refinery in Shandong Province that purchased millions of barrels of Iranian oil…
U.S. sanctions make it nearly impossible to pay Iran for its oil. China has figured out how to do it anyway, in an arrangement that has largely been secret. PREMIUM A gas flare burns from a pipe on an offshore oil platform in the Persian Gulf.(WSJ) The barter-like system works like this, according to current…
A U.S. federal judge has reportedly ruled that Huawei Technologies, China’s leading telecommunications equipment manufacturer, must face a sweeping 16-count indictment accusing the company of stealing trade secrets, racketeering, wire and bank fraud, and violating U.S. sanctions. U.S. District Judge Ann Donnelly rejected Huawei’s motion to dismiss the charges, calling the company’s arguments premature in…
* China state firms curb Russian oil imports on sanctions risks, sources say Sinopec and Zhenhua Oil halt Russian oil purchases due to sanctions concerns * PetroChina and CNOOC reduce March-loading Russian oil volumes * Independent refiners step in amid state firms’ cutbacks By Chen Aizhu and Florence Tan SINGORE, – Chinese state oil companies…