China has invoked its anti-sanctions law for the first time to counter the measures imposed by the United States on certain Chinese refineries accused of purchasing Iranian oil.
The Ministry of Commerce in Beijing has ordered companies, including Hengli Petrochemical, not to comply with the American sanctions, considering them illegal. This decision underscores the risks for international companies facing conflicting regulations. The law, introduced in 2021 and recently updated, allows for the imposition of trade and financial restrictions against targeted entities. The measure comes ahead of a planned visit by President Donald Trump to Beijing and reflects China's determination to respond to external pressures.
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