💨 Abstract

Shandong Port Group in eastern China has banned U.S.-sanctioned tankers from its ports, potentially disrupting oil imports from Iran, Russia, and Venezuela. The ban, if enforced, could drive up shipping costs for independent refiners in Shandong, which are major importers of discounted sanctioned crude from these countries. The ban could slow down China's oil imports, as the country is the world's largest oil importer.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖