Beijing (as seat of government)Běijīng北京for the first timeshǒucì首次to demand / to requireyāoqiú要求ChinaZhōngguó中国enterprises / companiesqǐyè企业to ignore / to disregardwúshì无视the United StatesMěiguó美国against / onduì对oil refiners / petroleum refinersliànyóu shāng炼油商(possessive particle)de的sanctionszhìcái制裁。
May 4, 2026 at 10:40 AM
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China & WorldChina 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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