Watch China Asks Banks to Pause New Loans to US-Sanctioned Refiners

Watch China Asks Banks to Pause New Loans to US-Sanctioned Refiners

China’s financial regulator has advised the country’s largest banks to temporarily suspend new loans to five refiners recently sanctioned by the US over their ties to Iranian oil, according to people familiar with the matter. Bloomberg's Minmin Low reports.

China Orders Refiners to Ignore U.S. Sanctions on Key Iranian Oil Buyers

China’s Ministry of Commerce formally invoked its 2021 Blocking Rules for the first time on May 4, ordering all entities in the country to disregard U.S. sanctions on five domestic oil refiners, according to a ministry statement. [1] The directive protects Hengli Petrochemical, Shandong Jincheng Petrochemical, Hebei Xinhai Chemical, Shouguang Luqing Petrochemical and Shandong Shengxing Chemical, which were blacklisted by the U.S. Treasury in Apr…

Chinese Regulator Curbs Loans to Sanctioned Refiners

China’s financial regulator has reportedly advised the nation’s largest lenders to temporarily suspend new loans to five refineries recently sanctioned by the United States. This guidance comes amidst their alleged ties to Iranian oil, as reported by Bloomberg News on Wednesday, citing sources familiar with the matter. Reuters was unable to immediately verify the report. The National Financial Regulatory Administration (NFRA) issued verbal guida…

Why did China pause loans to US-sanctioned refiners?

China weighs credit restraint after new US sanctions China’s financial regulator has advised major lenders to temporarily pause new loans to a set of refineries that were recently sanctioned by the United States, according to Bloomberg News. The move targets five refineries that the US authorities…

China asks banks to pause new loans to US-sanctioned refiners, Bloomberg News reports - Regional Media News

May 6 (Reuters) - China's financial regulator has advised the country's largest lenders to temporarily suspend new loans to five refineries recently sanctioned by the U.S. over their ties to Iranian oil, Bloomberg News reported on Wednesday, citing people familiar with the matter. Reuters could not immediately verify the report. The National Financial Regulatory Administration (NFRA) has in an verbal guidance asked the banks to refrain from exte…

China asks banks to pause new loans to US-sanctioned refiners

Tensions are escalating between the superpowers just weeks before a long-awaited meeting