China’s financial regulator tells major banks to temporarily halt new lending to five refiners that the United States recently sanctioned, according to people familiar with the matter cited by Bloomberg. The directive is linked to the refiners’ alleged ties to Iranian oil, which is the basis for the US sanctions. The reports say the regulator’s guidance applies to China’s largest banks and is intended as a temporary measure rather than a permanent ban. The companies involved are described as refiners newly sanctioned by the United States, but the accounts provided do not specify additional operational details beyond their connection to Iranian oil. The information is presented as coming from sources familiar with the discussions, and it does not include comments from the regulator, the banks, or the affected refiners. Overall, the development highlights financial compliance steps Chinese banks may take in response to US secondary sanctions risk associated with the Iran-related activities of counterparties.
China urges banks to pause lending to five US-sanctioned refiners
China’s financial regulator tells major banks to temporarily halt new lending to five refiners that the United States recently sanctioned, according to people familiar with the matter cited by Bloombe...
- China’s financial regulator advises major Chinese banks to temporarily suspend new loans.
- The guidance targets five refiners recently sanctioned by the United States.
- The US sanctions relate to the refiners’ ties to Iranian oil.
- Bloomberg reports the information from people familiar with the matter.
- The lending halt is described as temporary.
China’s financial regulator has advised the country’s largest banks to temporarily suspend new loans to five refiners recently sanctioned by the US over their ties to Iranian oil, according to people familiar with the matter. Bloomberg's Minmin Low reports. (Source: Bloomberg)
3 months agoChina’s financial regulator advised the country’s largest banks to temporarily suspend new loans to five refiners recently sanctioned by the US over their ties to Iranian oil, according to people familiar with the matter.
3 months ago
Witness tells inquiry Transport Accident Commission support worsened her grief after child’s death
An inquiry hears evidence from Kerryn Airs, who says she witnessed the death of an eight-year-old child and that the Tra...
Tinubu orders 500 more CNG stations to expand to 1,000 nationwide
President Bola Tinubu orders the rollout of 500 additional compressed natural gas (CNG) refuelling stations, as part of...
Adelabu withdraws Oyo APC 2027 governorship legal fight, calls for party reconciliation
Former Minister of Power Adebayo Adelabu withdraws from his legal and internal dispute over the All Progressives Congres...