China has firmly rejected US sanctions targeting several of its companies accused of purchasing Iranian oil, declaring it will neither recognise nor enforce the measures. In a statement issued on Saturday, China’s commerce ministry said the sanctions—announced in phases since last year—are invalid under international law and should not be implemented by Chinese entities. Beijing is one of the largest buyers of Iranian crude, with much of the trade routed through smaller independent processors, often referred to as “teapot” refineries, which depend on discounted oil supplies from Tehran. The United States has intensified efforts to cut off Iran’s oil revenues,…
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