China invokes rules to blunt US sanctions on ‘teapot’ refiners

China has invoked a five-year-old legal instrument to block enforcement of US sanctions on five Chinese ‘teapot’ oil refiners, including one sanctioned for buying Iranian crude. This marks a shift in China's approach to unilateral sanctions and reflects concerns over US extraterritorial jurisdiction. The move intensifies the US-China strategic competition and raises questions about the future of international trade.