By Siyi Liu, Trixie Yap and Chen Aizhu
Recent American Singapore (Reuters) sanctions on two small Chinese refiners for the purchase of Iranian oil has created difficulties in receiving crude and led them to sell products under other names, sources familiar with the case have declared proofs of the disturbance that Washington pressure imposes Téhran pressure.
The targeting of independent refiners, known as Théières, marked an escalation in Washington's efforts to reduce Tehran's export income while President Donald Trump seeks to put pressure on Iran in an agreement on his nuclear program.
Washington's sanctions against Shandong Shouguang Luqing Petrochemistry in March and Shandong Shengxing Chemical in April also began to dissuade other larger Chinese Chinese refiners from buying an Iranian crude, three of the sources said.
About five factories in the Shandong province center have interrupted Iranian oil purchases since last month, fearing to be struck by sanctions, two commercial executives said. This distrust is the main reason for reductions for Iranian light have widened to $ 2.30 to $ 2.40 per barrel against Ice Brent, against about $ 2 per month, the leaders said and another source.
Among the disadvantages encountered by the two sanctioned teapots, the Shandong port group managed by the State, the main port operator in the province, denied the entry to the ships responsible for gross they bought, five trade sources said. This follows the banish ban on the port group on port calls by oil tankers sanctioned by the United States.
Shandong Port Group and Shengxing did not respond to requests for comments. A Luqing leader refused to comment.
Large state banks have also ceased to provide Luqing with operational capital for the purchase of crude, forcing him to work with smaller banks, four of the sources said.
The sources have refused to be identified due to the sensitivity of the issue.
Beijing says that he opposes unilateral sanctions and defends his trade as legitimate with Iran, which sends about 90% of its oil exports to China. However, data on Chinese customs have not shown no oil shipped from Iran since July 2022, with imports from Iranian crude labeled as from Malaysia or other countries.
Shipping, head of sales
The prohibition of cargoes by the group of Shandong ports for the two refineries forced them to unload in other ports, according to three sources.
In one case, the oil tanker Bei Hai Ming carrying oil for the shengxing refinery was rejected when he sought to land at the port of Laizhou, controlled by the Shandong port group, around April 21, according to a familiar source with the case.
