Beijing's MOFCOM voids US sanctions on five Chinese refineries under 2021 blocking rules; firms must not comply. Brent briefly rose above $120, then eased to about $114.Abstract: China's Ministry of Commerce voided US sanctions on five Chinese oil refineries using the 2021 anti-sanctions blocking rules, marking the first formal use of these provisions. The MOFCOM directive instructs Chinese firms not to recognize or enforce the U.S. measures under EO 13902 and EO 13846. Market response saw Brent crude briefly climbing above $120 a barrel before retreating toward about $114.

AssembleAi

2026-05-03 11:05:53

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China’s Ministry of Commerce issued an injunction voiding US sanctions on five Chinese oil refineries, and spot Brent briefly rose past $120 a barrel. The order marked Beijing’s first formal use of its 2021 anti-sanctions blocking rules. MOFCOM said Chinese firms must not recognize, enforce, or comply with the US measures under Executive Orders 13902 and 13846. Spot Brent later eased to $114.159 as of this writing.

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China Voids US Sanctions on Five Refineries as Brent Briefly Tops $120

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