China tells firms to defy U.S. sanctions in clash over Iranian oil

Chinese authorities have instructed Chinese companies to defy U.S. sanctions related to Iranian oil, urging them to ignore restrictions on oil refineries. This action follows the U.S. imposition of sanctions on Iranian energy exports in October 2025. The U.S. Treasury Department blacklisted Shandong Jincheng Petrochemical Group, citing its purchase of millions of barrels of Iranian oil since 2023.