China ordered companies to ignore US sanctions against five oil refiners accused of buying Iranian crude, an unprecedented pushback against American financial measures less than two weeks before a presidential summit. The US action “violates international law and the basic norms of international relations”, China’s Ministry of Commerce said on Saturday. The sanctions cover a refinery in Dalian owned by Shanghai-listed Hengli Petrochemical, along with four independent “teapot” refineries –…
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