The US Office of Foreign Assets Control issues an alert to financial institutions about “the sanctions risks of dealing with independent oil refineries in China.”
- “Financial institutions should take steps to ensure they are not facilitating transactions involving designated teapot refineries, or other teapot refineries that may be importing Iranian oil, because this may expose the financial institutions to sanctions,” notice says
- US separately
sanctions several individuals and companies related to Iran, some of which are based in Hong Kong
To contact the reporter on this story:
To contact the editors responsible ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.