China Orders Firms to Defy U.S. Sanctions Against Refiners
For the first time, China has directed its companies to ignore U.S. sanctions targeting five domestic refiners linked to Iran's oil trade. This move signals a more assertive stance against unilateral economic measures and could escalate tensions between Washington and Beijing ahead of an upcoming meeting between President Donald Trump and Chinese leader Xi Jinping.
Topics: banking sector economic sanctions US-China relations