, U.S. Sanctions Against Chinese Oil Traders Over Iran
U.S. imposed sanctions on China’s state-run Zhuhai Zhenrong Corp, along with two other firms, for trading refined oil products to Iran. The move took place just days after US Treasury secretary, Tim Geithner, made a trip to Beijing to press for Chinese support on Iran sanctions. This has definitely created a chaos among other oil traders in the industry. And not to forget, this has surely been the talk of the town for quite a few energy magazines around the globe.
