Sanctions

China’s Huawei reveals chip design breakthrough amid US sanctions

The company’s Ascend chip series has become increasingly central to powering Chinese artificial intelligence models

Hengli Petrochemical's refining complex in China's Dalian in 2018.

Hengli’s ex-Singapore unit dismisses staff after US sanctions, at risk of being wound down: sources

Singapore is an important base for many China-based firms seeking to source crude and metals

The US Treasury Department blacklisted 12 firms and individuals, saying in a statement that they facilitated the sale of oil on behalf of the Islamic Revolutionary Guard Corps.

US sanctions Hong Kong, Dubai entities over sale of Iranian oil to China

The Trump administration has been issuing new sanctions on Iran regularly

While China has often railed against unilateral sanctions, it has in past instances also quietly allowed its largest companies to comply with them.

China asks banks to pause new loans to US-sanctioned refiners

Tensions are escalating between the superpowers just weeks before a long-awaited meeting

The Hengli Petrochemical complex at Changxing island in Dalian in 2018. The firm has denied US allegations that it traded with Iran.

China uses anti-sanctions law to counter US blacklisting of refiners that bought Iranian crude

This comes less than two weeks before US President Donald Trump is due to visit Beijing

China is deploying a blocking measure introduced in 2021 that was aimed at protecting its firms from foreign laws it deemed unjustified.

China’s rare defiance of US sanctions sparks showdown over banks

The Asian nation has long been the single largest buyer of Teheran’s oil shipments

While China’s state-owned entities generally stay away from blacklisted oil, private refiners have been Teheran’s most important consumers, making the most of discounted prices.

US warns of sanctions risks for Chinese refiners of Iranian oil

The move risks adding yet another irritant for China ahead of an expected summit between US President Donald Trump and China’s Xi Jinping next month

Hengli Petrochemical exported on average at least 50,000 tonnes per month of petrochemicals last year.

Chinese refiner Hengli, sanctioned by US, restructures Singapore unit: sources

Washington sanctions refinery unit for allegedly buying billions of dollars in Iranian oil

Hengli is among China’s top producers of purified terephthalic acid and one of world’s biggest petrochemical suppliers.

US sanctions on China oil giant Hengli turn up heat for teapot refiners

Hundreds of chemical, synthetic fibre and textile producers across East Asia face near-immediate disruption to supplies