China invokes anti-sanctions law to counter US blacklisting of refiners

China has invoked a law for the first time to target companies that comply with foreign sanctions it rejects, marking a direct escalation in its response to U.S. blacklisting of several oil refineries over Iranian crude purchases. The move raises legal and geopolitical risk for firms operating across China-U.S. sanctions regimes and could add volatility to energy trade flows tied to Iran and the global oil market.

Analysis

China has invoked a law for the first time to target companies that comply with foreign sanctions it rejects, marking a direct escalation in its response to U.S. blacklisting of several oil refineries over Iranian crude purchases. The move raises legal and geopolitical risk for firms operating across China-U.S. sanctions regimes and could add volatility to energy trade flows tied to Iran and the global oil market.