China bans implementation of US sanctions against Iran

The Chinese Ministry of Commerce has issued a legal ban on implementing or complying with US sanctions against five Chinese companies allegedly involved in oil trade with Iran. This action is based on the 'Measures for Blocking the Improper Extraterritorial Application of Foreign Laws and Measures' and aims to prevent the application of US sanctions lacking UN authorization. China will continue to monitor situations involving the improper extraterritorial application of laws by other countries.