China Directs Banks to Pause Loans to Sanctioned Refiners
China's regulator advised banks to pause new loans to five refineries sanctioned by the U.S. for Iranian oil ties. Lenders must review existing dealings.
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China regulators directed lenders to pause new loans to five refineries sanctioned by the United States over Iranian oil ties. The National Financial Regulatory Administration (NFRA) issued verbal guidance targeting firms including Hengli Petrochemical (Dalian) Refinery. The directive, issued before May 1, reflects Beijing's effort to balance domestic energy needs against the risk of secondary U.S. sanctions.
