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China Asks Banks to Pause New Loans to US-Sanctioned Refiner
China’s financial regulator 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.The National Financial Regulatory Administration asked banks to review their exposure and business dealings with firms including Hengli Petrochemical (Dalian) Refinery Co., one of China’s largest private refiners, while awaiting further guidance, the people said, asking not to be named because the information is private. For now, banks have been guided not to extend new yuan-denominated credit, though they have also been told not to call in existing loans, the people added.
China reportedly halts new loans to U.S.-sanctioned refiners
China's financial regulator has reportedly instructed major banks to suspend new yuan loans to five refineries recently sanctioned by the U.S. over Iranian oil ties. The move contrasts with ...
The Economic Playbook Behind China's Rare Earth Market Success
It was a price tag. For more than two decades, Beijing has used a remarkably simple strategy to maintain its stranglehold on the global rare earth supply chain: ...
China Pushes Back On US Curbs Against 'Teapot' Refineries: What Beijing ...
What China's Order Says According to the order issued by China's Ministry of Commerce, cited by Al Jazeera, Beijing ruled that the US sanctions on Hengli Petrochemical (Dalian) refinery and four other refineries sanctioned by Washington "shall not be recognised, enforced or complied with".
