How China Rendered US Sanctions Obsolete
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Beijing announced Saturday, May 2, invoking the "blocking law", prohibiting Chinese companies from complying with the sanctions imposed by Washington at the end of April against five refineries because of their Iranian oil purchases. This is the first time that China has used this tool, which was put in place in 2021 to combat the extraterritoriality of foreign laws, particularly the US. This measure could speed up the decoupling of the two fina…
How China rendered US sanctions obsolete
OR decades, the United States (US) has wielded financial and economic lever¬age as its ultimate geopo¬litical weapon—the so-called “nuclear option” of modern statecraft.Through unilateral sanctions, dollar dominance, and control over the SWIFT system, Wash¬ington has sought to pressure, isolate, and even cripple nations across the globe, from the DPRK to Russia.Today, however, China has systematically disrupted this long-standing hegemonic parad…
Washington had imposed sanctions on the refineries in question over their alleged purchases of Iranian oil. By The Cradle Newsroom. Beijing has ordered an injunction to block US sanctions targeting Chinese oil refineries accused of buying Iranian oil – thereby requiring the country’s energy companies not to comply with Washington’s measures. China’s Ministry of Commerce announced the measure on May 2. The announcement said the ministry was issui…
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