China bans US-sanctioned oil tankers from major ports, impacting imports and refiners.

China's Shandong Port Group has banned US-sanctioned oil tankers from docking at its major east coast ports, including Qingdao, Rizhao, and Yantai. This move impacts independent refiners, who mainly buy cheap, sanctioned crude from Iran, Russia, and Venezuela. The ban could increase shipping costs and slow oil imports to China, the world's largest oil importer. Meanwhile, the US has added China's COSCO Shipping to a military blacklist, citing links to the Chinese military, which could discourage US firms from engaging with the company.

3 months ago
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