Sinopec confirms it will not purchase Iranian crude oil
China's state-run refiner Sinopec announced on Monday that it does not intend to buy Iranian oil. The decision comes despite recent U.S. sanctions waivers.
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The state-run energy giant of China, SINOPEC KANTONS HOLDINGS, has declared that it does not intend to purchase crude oil from Iran. This statement was made by a senior executive during a results briefing on Monday, following recent developments in international trade policy.
The decision comes in the wake of the United States granting sanctions waivers to several countries, allowing them to continue importing limited quantities of Iranian oil. Despite this shift in the regulatory environment, the Chinese refiner is maintaining its current stance against such acquisitions.
