💨 Abstract

The US imposed sanctions on a Chinese refinery, Shandong Shengxing Chemical Co., Ltd, for purchasing over $1 billion worth of Iranian crude oil, as part of efforts to halt Iran's illicit oil exports, particularly to China. The sanctions also target companies and vessels involved in shipping Iranian oil to China. This is the second action against a Chinese refinery since President Trump issued National Security Presidential Memorandum 2 in February.

Courtesy: theprint.in

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