Beijing (as seat of government)

Běijīng

北京

for the first time

shǒucì

首次

to demand / to require

yāoqiú

要求

China

Zhōngguó

中国

enterprises / companies

qǐyè

企业

to ignore / to disregard

wúshì

无视

the United States

Měiguó

美国

against / on

duì

对

oil refiners / petroleum refiners

liànyóu shāng

炼油商

(possessive particle)

de

的

sanctions

zhìcái

制裁

。

New Words

News in English

China Orders Firms to Defy US Sanctions on Oil Refiners

China ordered its companies to defy US sanctions on oil refiners for the first time, instructing them to continue business dealings with designated targets. The move raises concerns that Chinese banks could be cut off from the US dollar settlement system.

The Chinese government for the first time publicly demanded that Chinese enterprises ignore US sanctions against oil refiners. Sources stated that Beijing has issued directives to relevant enterprises requiring them to continue business dealings with oil refiners designated as sanctions targets by the United States. This move is considered an important step forward in China's strategic contest with the US economic game. The United States previously imposed sanctions on multiple oil refiners linked to Iran and Russia, restricting their access to international financial services. If Chinese enterprises comply with Beijing's directive, relevant banks may face the risk of being excluded from the US dollar settlement system. This latest confrontation is viewed by outside observers as a new round of competition between China and the US over global financial dominance.

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