US Pulls China Into War Standoff With Refinery Sanctions
By blacklisting major player Hengli, Washington hopes to strengthen its hand in peace talks.
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Welcome to our guide to the commodities driving the global economy. Today, Asia Oil Team Leader Serene Cheong explores the repercussions of US sanctions against a major player among China’s “teapot” refiners.
In blacklisting one of China’s largest private oil refiners, US President Donald Trump is seeking to inflict more pain on Iran and gain leverage at the negotiating table.