China’s Law: Retaliation Against U.S. Sanctions

In a landmark move, China has leveraged a domestic law for the first time to counter foreign sanctions, particularly targeting companies that adhere to U.S. restrictions it finds unjustified. This escalation comes amid ongoing tensions over American blacklisting of several Chinese oil refineries involved in the purchase of Iranian crude. The Ministry of Commerce on Saturday directed Chinese firms not to comply with U.S. sanctions imposed on five refiners, including the recently sanctioned Hengli Petrochemical. The law empowers Beijing to retaliate against entities enforcing sanctions viewed as illegitimate, marking a significant pushback against Western efforts to stymie China’s trade activities…