China’s Ministry of Commerce told Chinese companies: Do NOT comply with U.S. sanctions on certain Chinese oil refiners.

INTELLIGENCE SUMMARY

China’s Ministry of Commerce told Chinese companies: Do NOT comply with U.S. sanctions on certain Chinese oil refiners. The U.S. had sanctioned these firms for buying oil from Iran. China says the sanctions are illegal “extraterritorial” overreach. China is protecting its oil trade with Iran and pushing back against U.S. pressure.