What I am hearing coming out of China is that Beijing's public stance is not what they are quietly saying behind the scenes. Which is typical. While publicly there are strong statements to ignore the threats, but privately the banks are being told to quietly make accommodations. Do not interfere with existing contracts, but use caution with any new loans by the banks. The last thing China wants is secondary sanctions that could threaten their access to the dollar system. As usual, the Chinese will come up with clever work arounds to avoid any direct implications.
In accordance with the relevant provisions of the National Security Law of the People's Republic of China, the Foreign Relations Law of the People's Republic of China, the Anti-Foreign Sanctions Law of the People's Republic of China and its implementing regulations, and the Measures for Blocking the Improper Extraterritorial Application of Foreign Laws and Measures (hereinafter referred to as the "Blocking Measures"), the working mechanism of the Blocking Measures has conducted a comprehensive assessment of the sanctions imposed by the United States on companies such as Hengli Petrochemical (Dalian) Refining Co., Ltd. on the grounds of participation in Iranian oil transactions. These sanctions include inclusion in the Specially Designated Nationals List (SDN List), freezing of assets, and prohibition of transactions. The assessment has confirmed that the sanctions imposed by the United States on the aforementioned companies constitute improper extraterritorial application.
To safeguard national sovereignty, security, and development interests, and to protect the legitimate rights and interests of Chinese citizens, legal persons, and other organizations, the Ministry of Commerce, in accordance with Articles 2, 4, 6, and 7 of the "Blocking Measures" and the decision of the working mechanism, hereby issues the following injunction:
The following sanctions, including inclusion on the "Specially Designated Nationals List," asset freezes, and transaction prohibitions, imposed by the United States on Hengli Petrochemical (Dalian) Refining & Chemical Co., Ltd., Shandong Shouguang Luqing Petrochemical Co., Ltd., Shandong Jincheng Petrochemical Group Co., Ltd., Hebei Xinhai Chemical Group Co., Ltd., and Shandong Shengxing Chemical Co., Ltd., under Executive Orders 13902 and 13846, on the grounds of their participation in Iranian oil transactions, shall not be recognized, implemented, or complied with.
This injunction shall take effect from the date of its promulgation.
FAFO
This
Trump doesn't bluff. FAFO
What I am hearing coming out of China is that Beijing's public stance is not what they are quietly saying behind the scenes. Which is typical. While publicly there are strong statements to ignore the threats, but privately the banks are being told to quietly make accommodations. Do not interfere with existing contracts, but use caution with any new loans by the banks. The last thing China wants is secondary sanctions that could threaten their access to the dollar system. As usual, the Chinese will come up with clever work arounds to avoid any direct implications.
Fox is a known lie factory.
Here is the sweet and sour sauce for your egg roll.
In accordance with the relevant provisions of the National Security Law of the People's Republic of China, the Foreign Relations Law of the People's Republic of China, the Anti-Foreign Sanctions Law of the People's Republic of China and its implementing regulations, and the Measures for Blocking the Improper Extraterritorial Application of Foreign Laws and Measures (hereinafter referred to as the "Blocking Measures"), the working mechanism of the Blocking Measures has conducted a comprehensive assessment of the sanctions imposed by the United States on companies such as Hengli Petrochemical (Dalian) Refining Co., Ltd. on the grounds of participation in Iranian oil transactions. These sanctions include inclusion in the Specially Designated Nationals List (SDN List), freezing of assets, and prohibition of transactions. The assessment has confirmed that the sanctions imposed by the United States on the aforementioned companies constitute improper extraterritorial application.
To safeguard national sovereignty, security, and development interests, and to protect the legitimate rights and interests of Chinese citizens, legal persons, and other organizations, the Ministry of Commerce, in accordance with Articles 2, 4, 6, and 7 of the "Blocking Measures" and the decision of the working mechanism, hereby issues the following injunction:
The following sanctions, including inclusion on the "Specially Designated Nationals List," asset freezes, and transaction prohibitions, imposed by the United States on Hengli Petrochemical (Dalian) Refining & Chemical Co., Ltd., Shandong Shouguang Luqing Petrochemical Co., Ltd., Shandong Jincheng Petrochemical Group Co., Ltd., Hebei Xinhai Chemical Group Co., Ltd., and Shandong Shengxing Chemical Co., Ltd., under Executive Orders 13902 and 13846, on the grounds of their participation in Iranian oil transactions, shall not be recognized, implemented, or complied with.
This injunction shall take effect from the date of its promulgation.
Excellent, TY.
u/#WarriorTrump
How can they ignore sanctions when these sanctions prevent them from doing business in other countries?
Piss off Poo Bear!!