Two Chinese state-owned oil companies are stopping imports from Iran for May as US ended sanction waivers to increase pressure on Tehran, Reuters reported.
China Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC) worry over the consequences of violating the sanctions.
International firms will be cut off from global finance system-sources if violating the sanctions.
“Two of the sources said Sinopec and CNPC have skipped bookings for cargoes loading in May as the companies were worried that taking oil from Iran could invoke US sanctions and cut them out of the global financial system,” said Reuters.
US president has ended the exceptions from sanctions for a number of countries who had been allowed to buy oil from Iran, temporarily.
China was Iran’s major importer and one of the eight countries previously permitted to trade with Tehran.
