Trump sanctions impact: China wants banks to pause new loans to sanctioned refiners

May 7, 2026 - 15:30
Trump sanctions impact: China wants banks to pause new loans to sanctioned refiners

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The United States has stepped up efforts to restrict Iranian oil exports, a major source of revenue for Tehran. Late last month, the Treasury Department’s Office of Foreign Assets Control imposed sanctions on Hengli, targeting one of the most prominent and well-connected companies in China’s large crude-processing sector.

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